Full year results 2015

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Full year results 2015
Full year results 2015
Disclaimer
Disclaimer
Agenda
Agenda
Driving performance and growth
Driving performance and growth
Building a simplified and well diversified investment company
Building a simplified and well diversified  investment company
Well positioned to capitalise on major global trends shaping the savings and investments landscape
Well positioned to capitalise on major global trends shaping the savings and investments landscape
Our vision for a world-class investment company
Our vision for a world-class investment company
How we think about our business
How we think about our business
Growth channels driving increase in fee AUA
Growth channels driving increase in fee AUA
Growth channels driving increase in revenue and profit
Growth channels driving increase in revenue and profit
Full year results 2015
Full year results 2015
Delivering across our simple business model
Delivering across our simple business model
Group operating profit
Group operating profit
Non-operating items
Non-operating items
Continuing growth in assets in volatile markets …
Continuing growth in assets in volatile markets …
… driven by strong net inflows across our growth channels …
… driven by strong net inflows across our  growth channels …
… with Institutional and Wholesale benefiting from an increasingly global
… with Institutional and Wholesale benefiting from an increasingly global
… and Workplace and Retail continuing to see strong customer demand
… and Workplace and Retail continuing to  see strong customer demand
Growth in assets driving strong increase in fee revenue
Growth in assets driving strong  increase in fee revenue
Spread/risk margin reduced in line with expectations
Spread/risk margin reduced in line with expectations
Ongoing reduction in unit costs
Ongoing reduction in unit costs
Fee revenue growth and scalability driving profit
Fee revenue growth and scalability driving profit
Group underlying performance by business unit
Group underlying performance by business unit
Institutional and Wholesale driving profit in SLI
Institutional and Wholesale driving profit in SLI
Continuing growth in Workplace and Retail
Continuing growth in Workplace and Retail
Delivering for our customers in the new pensions world
Delivering for our customers in the new pensions world
Solvency II, cash generation and dividend
Solvency II, cash generation and dividend
Well capitalised with a stable Solvency II surplus
Well capitalised with a stable Solvency II surplus
Stable regulatory surplus
Stable regulatory surplus
Underlying cash generation and methodology unaffected by Solvency II
Underlying cash generation and methodology  unaffected by Solvency II
How we think about capital
How we think about capital
Full year dividend up 7.8% to 18.36p
Full year dividend up 7.8% to 18.36p
Building a simplified and well diversified investment company
Building a simplified and well diversified investment company
Our simple business model continues to serve us well
Our simple business model continues to serve us well
Building a simplified and well diversified investment company
Building a simplified and well diversified  investment company
Our vision for a world-class investment company
Our vision for a world-class investment company
Well positioned to capitalise on major global trends shaping the savings and investments landscape
Well positioned to capitalise on major global trends shaping the savings and investments landscape
Simplified business driven forward by one team
Simplified business driven forward by one team
One company, one culture, one vision
One company, one culture, one vision
Institutional – meeting the needs of clients globally
Institutional – meeting the needs of clients globally
Wholesale – benefiting from growing demand from individuals
Wholesale – benefiting from growing demand  from individuals
Backed by consistently strong investment performance
Backed by consistently strong investment performance
We have a range of proven investment solutions to drive sustainable long-term growth
We have a range of proven investment solutions to drive sustainable long-term growth
We have a range of proven investment solutions to drive sustainable long-term growth
We have a range of proven investment solutions to drive sustainable long-term growth
We have a range of proven investment solutions to drive sustainable long-term growth
We have a range of proven investment solutions to drive sustainable long-term growth
Benefiting from an increasingly global presence and strong strategic partners
Benefiting from an increasingly global presence and strong strategic partners
Workplace – positioned to benefit from DC market growth
Workplace – positioned to benefit from DC market growth
Retail – growth benefiting from success of our platform
Retail – growth benefiting from success of our platform
Workplace and Retail – further opportunities for greater engagement with our customers
Workplace and Retail – further opportunities  for greater engagement with our customers
India is a rich source of opportunity for growth
India is a rich source of opportunity for growth
Delivering strong organic asset and revenue growth
Delivering strong organic asset and revenue growth
Continuing to reduce unit costs and invest for growth
Continuing to reduce unit costs and invest for growth
Our simple business model will continue to serve us well under Solvency II
Our simple business model will continue to  serve us well under Solvency II
Building a simplified and well diversified investment company
Building a simplified and well diversified  investment company
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Solvency II and capital insight session
Solvency II and capital  insight session
Disclaimer
Disclaimer
Our simple business model will continue to serve us well under Solvency II
Our simple business model will continue to serve us well under Solvency II
Well capitalised with a stable Solvency II surplus
Well capitalised with a  stable Solvency II surplus
Well capitalised with a stable Solvency II surplus
Well capitalised with a stable Solvency II surplus
£4.9bn out of £5.5bn regulatory capital is tier 1
£4.9bn out of £5.5bn regulatory capital is tier 1
Benefiting from additional capital not recognised at Group level
Benefiting from additional capital not recognised at Group level
Stable regulatory surplus
Stable regulatory surplus
Understanding our Solvency II capital position
Understanding our  Solvency II capital position
What are Solvency II capital and capital requirements?
What are Solvency II capital and capital requirements?
Regulatory capital landscape
Regulatory capital landscape
Capital requirements reflect well diversified set of risks
Capital requirements reflect well diversified set of risks
Capital requirements reflect focus on fee business and our strong pension scheme and with profits funds
Capital requirements reflect focus on fee business and our strong pension scheme and with profits funds
Fee business generates regulatory capital in form of VIF
Fee business generates regulatory capital in form of VIF
Large pension scheme surplus dilutes our Solvency II ratio
Large pension scheme surplus dilutes our Solvency II ratio
How we think about our capital
How we think about our capital
Shareholders’ equity used efficiently
Shareholders’ equity used efficiently
Subsidiary IFRS profits drive dividends to SL plc
Subsidiary IFRS profits drive dividends to SL plc
Capital in plc supports strategy and progressive dividend
Capital in plc supports strategy and progressive dividend
Our business model under Solvency II
Our business model  under Solvency II
Our simple business model will continue to serve us well under Solvency II
Our simple business model will continue to serve us well under Solvency II
Summary
Summary
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers
Questions and answers