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Fast facts
Corporate
| Fact | Figure |
|---|---|
| Founded | 1832 |
| Chief Executive Officer | Trevor Matthews |
| Registered office | Pixham End, Dorking, Surrey RH4 1QA |
| Policyholders | 3.0m (excluding Lombard) |
| Employees | 3,200 |
| Ownership | Part of the Resolution group of companies |
| Other companies in the Friends Provident Group |
|
Financial
For period ended 30 June 2010, unless otherwise stated
| Fact | Figure |
|---|---|
IFRS operating profit before tax* |
£211m |
| MCEV operating profit before tax** Friends Provident Holdings (UK) Limited |
£188m |
| Cash surplus of life operating businesses | £79m |
| Value of new business | £81m |
| Internal rate of return on new business | 15.1% |
| Cash payback on new business | 7 years |
| Estimated IGD surplus capital resources | £1.0bn |
| Market-consistent embedded value | £3.2bn |
| Funds under management | £54.8bn |
| Solvency ratio*** Friends Provident Life & Pensions |
23.0% |
Insurer financial strength ratings
Friends Provident Life & Pensions
| Agency | Rating |
|---|---|
| Standard & Poor's | A- (Strong) Outlook Negative Reaffirmed 18 June 2010 |
| Moody's |
A3 (Strong) |
| Fitch | A (Strong) Outlook Rating Watch Positive Reaffirmed 30 June 2010 |
Accreditations
- Investor in People
- Business in the Community – Platinum status
- Carbon Trust Standard
- Payroll Giving Quality Mark - Gold award
- Hong Kong Council of Social Service, Caring Company 2009 -2010
Notes
*International Financial Reporting Standards (IFRS) is the basis on which listed groups are required to prepare accounts.
**The Market-Consistent Embedded Value (MCEV) basis is designed to recognise profit as it is earned over the term of a life insurance policy. It is in compliance with the European Insurance CFO Forum MCEV Principles.
*** Represented by the ratio of assets less liabilities (including actuarial reserves but before the required minimum solvency margin) expressed as a percentage of actuarial reserves.
Last updated August 2010
Copyright 2010 Friends Provident