Pelham Bell Pottinger +44 (0) Daniel de Belder
|
|
- Randolf Newman
- 5 years ago
- Views:
Transcription
1 HANSARD GLOBAL plc Harbour Court, Lord Street, Box 192, Douglas, Isle of Man IM99 1QL, British Isles Telephone: Fax: Internet: 9 November 2012 Hansard Global plc Interim Management Statement Hansard Global plc ( Hansard or the Group ), the specialist long-term savings provider, issues its Interim Management Statement for the period from 1 July 2012 to date. All figures refer to the three months ended 30 September 2012 ( Q ), except where indicated. Summary Overall new business margin of 10.7% (Q1 2012: 9.7%) reflects the continued increase in the proportion of regular premium business, in line with the Group s stated strategy; Regular premium new business flows remain resilient: 30.3m PVNBP in the quarter (Q1 2012: 33.9m), arising primarily from the growth market of the Far East; Single premium flows of 8.8m have reduced from 10.6m received in Q This reflects the impact of volatile markets, which are affecting the timing of investment decisions and the Group s strategy of focussing on more profitable regular premium new business; Through profitable new business and improved market conditions, EEV at 30 September 2012 has increased marginally from 224.3m at 30 June 2012; The value of Assets under Administration as at 30 September 2012 has increased to 1.05bn (30 June 2012: 1.03bn); From 1 January 2013 Gordon Marr will assume the position of Group CEO, whilst the Group s founder, Dr Leonard Polonsky, will take the role of non-executive Chairman. Leonard Polonsky, Chairman of Hansard Global plc, commented: Whilst new business levels are below those of the comparative period, the investment in distribution relationships means that the Group is well placed for continued growth in new business for the remainder of the year and over the longer term, despite current economic uncertainties. I congratulate Gordon on his forthcoming appointment as Group Chief Executive Officer. For some time I have been considering separating the roles of Chairman and Chief Executive. I see this as important for achieving Hansard s ambitions in the future. This development will enable Gordon to focus on the execution of Hansard s strategy during the next phase of our growth, and I remain committed to supporting Gordon and the Board in my new capacity of non-executive Chairman. For further information: Hansard Global plc +44 (0) Leonard Polonsky, Chairman Gordon Marr, Managing Director Vince Watkins, Chief Financial Officer Pelham Bell Pottinger +44 (0) Daniel de Belder Registered Office: Harbour Court, Lord Street, Box 192, Douglas, Isle of Man IM99 1QL, British Isles. Registered No C
2 Hansard Global plc INTERIM MANAGEMENT STATEMENT OVERVIEW Despite continued volatility in global markets in the quarter ended 30 September 2012 (Q1 2013), new business levels remain resilient. Hansard s strategy to acquire more profitable regular premium new business continues to be rewarded. Whilst overall new business levels of 39.1m PVNBP are 12.1% lower than a very strong comparative quarter last year (Q1 2012), regular premium flows of 30.3m are buoyant and represent a 78% increase over Q New business flows since 30 September 2012 have been higher than those of the same period last year on the Group s internal metric. New business margins on the PVNBP basis have risen to approximately 10.7% (30 June 2012: 9.6%), primarily as a result of an increased proportion of regular premium new business. We believe that our strategic decision to focus on non-eu markets, and the Far East and Latin America in particular, has been vindicated given the continuing instability in the eurozone. Increases in capital market values in the quarter have been reflected in the increases in value of policyholder Assets under Administration and in the Group s embedded value at 30 September 2012, when compared with 30 June BOARD CHANGES The Board has agreed that Gordon Marr will assume the role of Group Chief Executive Officer with effect from 1 January Dr Polonsky will remain as Chairman of the Board, with his role becoming non-executive. Mr Marr will chair the Group s Executive Committee from 1 January As previously reported, Philip Gregory, an Independent Non-Executive Director, took over the roles of Senior Independent Director, Chairman of the Remuneration Committee and Chairman of the Nominations Committee from Bernard Asher with effect from 24 September FINANCIAL PERFORMANCE AND POSITION 3 MONTHS TO 30 SEPTEMBER 2012 International Financial Reporting Standards ( IFRS ) During the period, the Group has continued to invest in distribution and other infrastructure and to generate IFRS profits backed by strong positive cash flows. Income streams remain stable and are in line with Q Profit after tax for Q is marginally above Q which reflects a reduction in unrealized foreign exchange losses from those incurred in the comparative period. European Embedded Value ( EEV ) EEV operating profit continues to be generated through profitable new business written during the period, the persistency of cash flows and the lack of option instruments, guarantees or other such features within the products issued by the Group. The effect of Page 2 of 6
3 the increases in major capital market levels in Q has been to increase our expectations of future asset-based income streams and therefore to contribute to a marginal improvement in EEV at 30 September 2012, when compared with 30 June Capitalisation and Solvency The Group continues to be strongly capitalised enabling it to satisfy operational, regulatory, intermediary and policyholder expectations. At 30 September 2012 the aggregate minimum regulatory margin remains covered approximately 14 times by the Group s capital resources. The Group s solvency position is well insulated against the current challenging capital market conditions. At the date of this report, the Group s liquid assets are held with a wide range of deposit institutions and in highly-rated money market liquidity funds. NEW BUSINESS FLOWS THREE MONTHS ENDED 30 SEPTEMBER 2012 New business flows for Q are summarised as follows (comparisons to Q are on actual currency basis): Q Q % Basis m m change Compensation Credit (9.3)% Present Value of New Business Premiums (12.1)% Annualised Premium Equivalent (10.4)% Present Value of New Business Premiums ( PVNBP ) In line with the Group s strategy to acquire regular premium new business from the growth markets of the Far East and Latin America, regular premium new business levels in the quarter of 30.3m constitute some 78% of total new business (Q1 2012: 76%). This has been achieved despite the volatile market conditions during the quarter which, among other factors, has restrained single premium investments. This increased proportion of regular premium new business has contributed to an increase in new business margins to 10.7% (Q1 2012: 9.7%). Reflecting the strategic focus on regular premium business, volatile market conditions and deferred investor appetite for lump-sum investing, single premium new business levels of 8.8m remain lower than the levels of the last few quarters and are 17% below Q Q Q % PVNBP by Premium type m m change Regular premium (10.6)% Single premium (17.0)% (12.1)% Page 3 of 6
4 Q Q % PVNBP by residence of policyholder m m change Far East % Latin America (46.6)% EU and EEA (13.1)% Rest of world (23.5)% (12.1)% Despite recent economic weaknesses in Latin America, over 68% of new business in the period is sourced from the Far East and Latin America regions (Q1 2012: 66%). We launched a new regular premium product in Latin America in early October with a view to recapturing interest from selected intermediaries in that region. We remain confident that we can build on existing relationships to enhance new business flows. New business margins The Group s strategy is to focus on generating new single and regular premium business on terms that meet target returns and contribute to profit. The new business margin is sensitive to the product mix. As a result of the higher regular premium component of new business issued in the period, which is more profitable to the Group than single premium business, the overall new business margin is approximately 10.7% (Q1 2012: 9.7%). HANSARD ONLINE The Group is continuing to develop Hansard OnLine in order to implement new business initiatives. In particular, over 4,500 regular premium new business cases have been processed online by the Group since piloting commenced in November 2009, and approximately 70% of investment dealing transactions are currently processed OnLine (an increase from 60% in June this year). ASSETS UNDER ADMINISTRATION A continued flow of regular premiums underpins Assets under Administration ( AuA ) and are reflected in an increase of 1.3% in AuA since 30 June 2012 to 1.05bn. The overall movement in AuA before market and currency effects illustrates the group s focus on higher margin, regular premium new business. Future withdrawals from matured existing single premium contracts are expected to continue, with new regular premium contracts replenishing AuA at a slower rate. We believe that moving the balance of new business towards regular premium contracts will be value enhancing in the longer term. Unaudited Q Q m m Deposits to investment contracts Withdrawals from contracts and charges (42.8) (48.4) Effect of market and currency movements 27.6 (151.1) Increase in period 13.8 (165.8) At 1 July 1, ,229.6 Assets under Administration 1, ,063.8 Page 4 of 6
5 There have been no significant changes since the year end in the volumes of illiquid assets or impaired fund structures held in AuA, nor in the currency composition of AuA. LITIGATION AND POLICYHOLDER COMPLAINTS Even though the Group does not give any investment advice, we have been subject to a number of policyholder complaints in relation to the selection and performance of assets linked to policies. Writs totalling 4.3m (approximately 3.5m) were served on Hansard Europe Limited during the period since the balance sheet date and to the date of this report. At time of writing, writs totalling approximately 11.5m have been served on that company. We estimate that current complaints may result in an additional 9m of legal actions in due course. We remain confident that we will be successful following our appeal against the initial ruling in the Norwegian litigation and we anticipate continuing additional expenditure to address this and other cases. Based on the pleadings and advice received to date from legal counsel the Group has not made any provision in respect of any complaints. The Group intends to defend itself against all claims strenuously. RESULTS FOR THE HALF-YEAR ENDING 31 DECEMBER 2012 New business results for the half-year ending 31 December 2012 are expected to be announced on 29 January Trading results for the half-year are expected to be announced on 28 February OUTLOOK We are optimistic that the Group s focus on non-eu markets including the Far East and Latin America and our continuing investment in distribution infrastructure, systems and Hansard OnLine, will position us for further growth. Page 5 of 6
6 Notes to editors: Hansard Global plc is the holding company of the Hansard Group of companies. The Company was listed on the London Stock Exchange in December The Group is a specialist long-term savings provider, based in the Isle of Man. The Group offers a range of flexible and tax-efficient investment products within a life assurance policy wrapper, designed to appeal to affluent, international investors. The Group utilises a low-cost distribution model by selling policies exclusively through a network of independent financial advisors, and the retail operations of certain financial institutions who provide access to their clients in more than 170 countries. The Group s distribution model is supported by Hansard OnLine, a multi-language internet platform, and is scaleable. The principal geographic markets in which the Group currently services financial advisors and policyholders are the Far East, Latin America and the Middle East, in the case of Hansard International Limited, and Western Europe in the case of Hansard Europe Limited, the Group s two life assurance companies. The Group s objective is to grow its business by attracting new business and positioning itself to adapt rapidly to market trends and conditions. The scaleability and flexibility of the Group s operations allow it to enter or develop new geographic markets and exploit growth opportunities within existing markets without the need for significant further investment. Forward-looking statements: This announcement may contain certain forward-looking statements with respect to certain of Hansard Global plc s plans and its current goals and expectations relating to future financial condition, performance and results. By their nature forward-looking statements involve risk and uncertainties because they relate to future events and circumstances which are beyond Hansard Global plc s control. As a result, Hansard Global plc s actual future condition, performance and results may differ materially from the plans, goals and expectations set out in Hansard Global plc s forward-looking statements. Hansard Global plc does not undertake to update forward-looking statements contained in this announcement or any other forward-looking statement it may make. No statement in this announcement is intended to be a profit forecast or be relied upon as a guide for future performance. Page 6 of 6
29 July 2010 Hansard Global plc New business results for the year ended 30 June 2010
HANSARD GLOBAL plc Harbour Court, Lord Street, Box 192, Douglas, Isle of Man IM99 1QL, British Isles Telephone: +44 1624 688000 Fax: +44 1624 688008 Internet: www.hansard.com 29 July 2010 Hansard Global
More informationHansard Global plc Trading update for the quarter ended 30 September 2017
9 November 2017 Hansard Global plc Trading update for the quarter ended 2017 Hansard Global plc ( Hansard or the Group ), the specialist long-term savings provider, issues its trading update for the period
More informationHANSARD GLOBAL plc. 28 February Hansard Global plc
HANSARD GLOBAL plc Harbour Court, Lord Street, Box 192, Douglas, Isle of Man IM99 1QL, British Isles Telephone: +44 1624 688000 Fax: +44 1624 688008 Internet: www.hansard.com 28 February 2013 Hansard Global
More informationHansard Global plc New business results for the six months ended 31 December 2017
25 January 2018 Hansard Global plc New business results for the six months ended 31 December 2017 Hansard Global plc ( Hansard or the Group ), the specialist long-term savings provider, issues its new
More informationHansard Global plc New business results for the year ended 30 June 2017
27 July 2017 Hansard Global plc New business results for the year ended 30 June 2017 Hansard Global plc ( Hansard or the Group ), the specialist long-term savings provider, issues its new business results
More informationHansard Global plc Trading update for the quarter ended 30 September 2018
8 November 2018 Hansard Global plc Trading update for the quarter ended 2018 Hansard Global plc ( Hansard or the Group ), the specialist long-term savings provider, issues its trading update for the period
More informationHansard Global plc Trading update for the period ended 31 March 2018
10 May 2018 Hansard Global plc Trading update for the period ended 31 March 2018 Hansard Global plc ( Hansard or the Group ), the specialist long-term savings provider, issues its trading update for the
More informationResults for year ended 30 June 2009
Results for year ended 30 June 2009 24 September 2009 Disclaimer This presentation does not constitute an invitation to subscribe for or otherwise to acquire or dispose of shares in Hansard Global plc.
More informationHANSARD GLOBAL plc. Gathering momentum
HANSARD GLOBAL plc Gathering momentum Interim Accounts 2013 Hansard Global plc Results for the six months ended 31 December 2012 Hansard s performance in H1 2013 demonstrates the benefits arising from
More informationHansard Global plc Interim Report and Accounts Financial Solutions for International Clients
Financial Solutions for International Clients Hansard Global plc Interim Report and Accounts 2015... we have successfully entered into business relationships with significant IFA networks and other institutions
More informationHansard Global plc Results for the six months ended 31 December 2017
22 February 2018 Hansard Global plc Results for the six months ended 31 December 2017 Hansard Global plc ( Hansard or the Group ), the specialist long-term savings provider, issues its results for the
More informationHalf-yearly results For the 6 months ended 31 December March 2007
Half-yearly results For the 6 months ended 31 December 2006 29 March 2007 Disclaimer This presentation does not constitute an invitation to subscribe for or otherwise to acquire or dispose of shares in
More informationResults for the six months ended 31 December Our focus on growth markets is bearing fruit
Hansard Global plc Results for the six months ended 31 December 2010 Our focus on growth markets is bearing fruit INTERIM MANAGEMENT REPORT Results for the six months ended 31 December 2010 The Group has
More informationHANSARD GLOBAL plc. Annual Report & Accounts On target, online, ongoing
HANSARD GLOBAL plc Annual Report & Accounts 2008 On target, online, ongoing 1 High Margins - High Profitability HANSARD OVERVIEW Highlights Hansard Global has a tight organisational structure and an attractive,
More informationa n n u a l r e p o r t a n d a c c o u n t s
a n n u a l r e p o r t a n d a c c o u n t s 2 0 1 7 Hansard is a specialist long-term savings provider that has been providing innovative financial solutions for international clients since 1987. We
More informationFULL YEAR RESULTS 2017/18
FULL YEAR RESULTS 2017/18 1 This presentation does not constitute an invitation to subscribe for or otherwise to acquire or dispose of shares in Hansard Global plc. This presentation may contain forward-looking
More informationBuilding. Title??? relationships. September 2015
Building relationships Title??? September 2015 Disclaimer This presentation does not constitute an invitation to subscribe for or otherwise to acquire or dispose of shares in Hansard Global plc. This presentation
More informationo v e r 2 5 y e a r s o f i n v e s t m e n t a n d s a v i n g s e x p e r i e n c e
in 10 hansard.com hansard international a global company Hansard International has been providing innovative financial products and services for international clients since 1987 and forms part of Hansard
More informationA Global Outlook on Your Financial Future
A Global Outlook on Your Financial Future W O R L D W I D E Finding a savings and investment product that enables you to access the potential in growth of the many economies around the world is not easy.
More informationNotes to the consolidated financial statements for the year ended 30 June 2017
Notes to the consolidated financial statements for the year ended 30 June 2017 1 Principal accounting policies Hansard Global plc ( the Company ) is a limited liability company, incorporated in the Isle
More informationPress Release 11 September STM Group Plc ( STM, the Company or the Group ) unaudited interim results for the six months ended 30 June 2018.
Press Release 11 September STM Group Plc ( STM, the Company or the Group ) Interim Results for the six months ended STM Group Plc (AIM: STM), the multi-jurisdictional financial services group, is pleased
More information(incorporated in the Isle of Man with company number C) Mr M Dyson Box 192
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document, you should consult a person authorised under the Financial Services and Markets
More informationHansard Global plc. (incorporated in the Isle of Man with company number C) Mr G S Marr Box 192
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document, you should consult a person authorised under the Financial Services and Markets
More informationOVER 25 YEARS OF INVESTMENT AND SAVINGS EXPERIENCE
f i n a n c i a l p r o d u c t s a n d s e r v i c e s f o r i n t e r n a t i o n a l c l i e n t s OVER 25 YEARS OF INVESTMENT AND SAVINGS EXPERIENCE hansard international a global company Hansard International
More information2018 Interim Results Announcement
Interim Results Announcement royallondon.com 16 August ROYAL LONDON MAINTAINS STRONG TRADING RESULTS. CEO URGES GOVERNMENT TO PUT CONSUMER FIRST BY SAVING THE PENSIONS DASHBOARD. Commenting on the results,
More informationST. JAMES S PLACE PLC
ST. JAMES S PLACE PLC HALF YEARLY REPORT 2008 St. James s Place plc Contents 02 Summary Half Yearly Results 03 St. James s Place Wealth Management New Business Figures 05 Interim Management Report 06
More informationST. JAMES S PLACE PLC
ST. JAMES S PLACE PLC HALF YEAR REPORT 2009 St. James s Place plc Contents 2 Summary Half Year Results 3 St. James s Place Wealth Management New Business Figures Interim Management Report 7 Interim Statement
More informationPress Release ROYAL LONDON REPORTS STRONG PROFIT AND NEW BUSINESS GROWTH IN THE FIRST HALF OF 2017
Press Release 17 August 2017 ROYAL LONDON REPORTS STRONG PROFIT AND NEW BUSINESS GROWTH IN THE FIRST HALF OF 2017 Trading highlights New life and pensions business (PVNBP basis) 1 up by 45% to 6,078m (
More informationLloyds TSB Group plc. Results for half-year to 30 June 2007
Lloyds TSB Group plc Results for half-year to 2007 CONTENTS Page Key operating highlights 1 Summary of results 2 Profit analysis by division 3 Group Chief Executive s statement 4 Group Finance Director
More informationThe following is a Company Announcement issued by Lombard Bank Malta p.l.c. pursuant to the Listing Rules of the Malta Financial Services Authority.
Company Announcement The following is a Company Announcement issued by Lombard Bank Malta p.l.c. pursuant to the Listing Rules of the Malta Financial Services Authority. Quote: During a meeting held on
More informationLloyds TSB Group plc. Results for the half-year to 30 June 2004
Lloyds TSB Group plc Results for the half-year to 30 June 2004 PRESENTATION OF RESULTS In order to provide a clearer representation of the underlying performance of the Group, the results of the Group
More informationPress Release 12 September STM Group Plc ( STM, the Company or the Group ) Unaudited Interim Results for the six months ended 30 June 2017
Press Release 12 September 2017 STM Group Plc ( STM, the Company or the Group ) Interim Results for the six months ended 2017 STM Group Plc (AIM: STM), the multi-jurisdictional financial services group,
More informationROYAL LONDON 2018 INTERIM FINANCIAL RESULTS
ROYAL LONDON 2018 INTERIM FINANCIAL RESULTS Tim Harris 16 August 2018 FORWARD LOOKING STATEMENT This document should be read in conjunction with Royal London s Interim Financial Results Press Release for
More informationARBUTHNOT BANKING GROUP ( Arbuthnot or the Group ) Results for the six months to 30 June Continuing growth
4 August 2010 For immediate release ARBUTHNOT BANKING GROUP ( Arbuthnot or the Group ) Results for the six months to 30 June 2010 Continuing growth All three divisions have seen continued growth and in
More informationPress Release 27 March STM Group Plc ( STM, the Company or the Group ) Final Results for the 12 months ended 31 December 2017
Press Release 27 March 2018 STM Group Plc ( STM, the Company or the Group ) Final Results for the 12 months ended 2017 STM Group Plc (AIM: STM), the multi-jurisdictional financial services group, is pleased
More informationProspectus Worldwide Personal Portfolio. Lump Sum Contribution Contract
Prospectus Worldwide Personal Portfolio Lump Sum Contribution Contract W O R L D W I D E Important notes This document is provided in addition to, and does not replace the Contract Terms and Conditions
More informationPress Release 13 September STM Group Plc ( STM, the Company or the Group ) Unaudited Interim Results for the six months ended 30 June 2016
Press Release 13 September 2016 STM Group Plc ( STM, the Company or the Group ) Interim Results for the six months ended 2016 STM Group Plc (AIM: STM), the multi-jurisdictional financial services group,
More informationPress Release 26 March STM Group Plc ( STM, the Company or the Group ) Final Results for the 12 months ended 31 December 2018
Press Release 26 March 2019 STM Group Plc ( STM, the Company or the Group ) Final Results for the 12 months ended 2018 STM Group Plc (AIM: STM), the multi-jurisdictional financial services group, is pleased
More informationRobust results - 269m 1 longevity strengthening - strong platform for increased shareholder value
LEGAL & GENERAL GROUP PLC PRELIMINARY RESULTS 2007 Stock Exchange Release 18 March 2008 Robust results - 269m 1 longevity strengthening - strong platform for increased shareholder value Financial EEV and
More informationLloyds TSB Group plc. Results for the half-year to 30 June 2003
Lloyds TSB Group plc Results for the half-year to 30 June 2003 PRESENTATION OF RESULTS In order to provide a clearer representation of the underlying performance of the Group, the results of the Group
More informationEuropean Embedded Value (EEV) basis results
06 European Embedded Value (EEV) basis results Page Index to EEV basis results 326 01 Group overview 02 Strategic report 03 Governance 04 Directors remuneration report 05 Financial statements 06 European
More informationNETWORKERS INTERNATIONAL PLC (AIM: NWKI) UNAUDITED INTERIM RESULTS FOR THE 6 MONTH PERIOD TO 30 JUNE 2013
19 September 2013 NETWORKERS INTERNATIONAL PLC (AIM: NWKI) UNAUDITED INTERIM RESULTS FOR THE 6 MONTH PERIOD TO 30 JUNE 2013 The Board of Networkers International Plc ( Networkers or the Group ), the AIM-listed
More informationPress Release 3 September STM Group Plc. ( STM, the Company or the Group ) Unaudited Interim Results for the six months ended 30 June 2013
Press Release 3 September STM Group Plc ( STM, the Company or the Group ) Interim Results for the six months ended STM Group Plc (AIM: STM), the international financial services group, is pleased to announce
More informationEuropean Embedded Value. (EEV) basis results 298 Index to EEV basis results. 01 Group overview 02 Strategic report 03 Governance 04 Directors
European Embedded Value (EEV) basis results 298 Index to EEV basis results 6 Apprenticeship programme Our communities Over the past two years Prudential UK has recruited 130 young people to join the highly
More informationLloyds TSB Group plc. Results for half-year to 30 June 2005
Lloyds TSB Group plc Results for half-year to 30 June 2005 PRESENTATION OF RESULTS Up to 31 December 2004 the Group prepared its financial statements in accordance with UK Generally Accepted Accounting
More informationAbbey reports continued growth
Abbey reports continued growth London, 26 October 2006 This statement provides a summary of the business and financial trends for the three months to 30 September 2006. Unless otherwise stated, the trading
More informationPartnership Holdings Limited. Interim statement for the 6 months ended 30 June 2011
Partnership Holdings Limited Interim statement for the 6 months ended 30 June 2011 Highlights Partnership s trading in the first half of 2011 has continued to show strong growth, with substantial increases
More informationPress Release ROYAL LONDON REPORTS STRONG NEW BUSINESS AND PROFITS GROWTH
Press Release 30 March 2017 ROYAL LONDON REPORTS STRONG NEW BUSINESS AND PROFITS GROWTH Financial highlights New life and pensions business (PVNBP basis) 1 up by 28% to 8,686m (2015: 6,774m); Funds under
More informationAbbey reports further evidence of return to growth
Abbey reports further evidence of return to growth London, 27 July 2006 This statement provides a summary of the business and financial trends for the six months to 30 June 2006. The trading 1 results
More informationInterim Management Statement for the period from 1 January 2010 to 18 May 2010
Chesnara plc Interim Management Statement Chesnara plc Interim Management Statement for the period from 1 January 2010 to 18 May 2010 19 May 2010 This statement relates primarily to the financial position
More informationSECTION A SECTION B. PERFORMANCE 16 Chief Executive s Review 23 Financial Review 35 Financial Management 39 Risk Management 42 Focus on Solvency II
SECTION A OVERVIEW AND STRATEGY 05 Performance Highlights 06 Chairman s Statement 09 Our Vision & Strategy 10 Strategic Objectives 13 The Chesnara Business 14 Business Model SECTION B PERFORMANCE 16 Chief
More informationEuropean. 324 Index to EEV basis results. 06 European Embedded Value (EEV) basis results
06 European Embedded Value (EEV) basis results 324 Index to EEV basis results 06 European Embedded Value (EEV) basis results Index to European Embedded Value (EEV) basis results 325 Post-tax operating
More informationExecuting a successful listing London
www.pwc.co.uk/capitalmarkets Executing a successful listing London About this brochure This brochure summarises the different London markets, the listing standards for each market, the process and the
More informationNews Release Aviva plc
Page 1 of 9 News Release Aviva plc Interim management statement to 30 September 29 October Aviva plc Third Quarter Interim Management Statement Mark Wilson, Group Chief Executive Officer, said: "We are
More informationQ Interim Management Statement
Q1 Interim Management Statement BASIS OF PRESENTATION This report covers the results of Lloyds Banking Group plc together with its subsidiaries (the Group) for the three ch. Statutory basis Statutory information
More informationBofA Merrill Lynch Conference 30 September, Mark Wilson Group CEO
BofA Merrill Lynch Conference 30 September, 2015 Mark Wilson Group CEO 1 Disclaimer Cautionary statements: This should be read in conjunction with the documents filed by Aviva plc (the Company or Aviva
More informationBritish Smaller Companies VCT 2 plc Unaudited Interim Results and Interim Management Statement
British Smaller Companies VCT 2 plc Interim Results and Interim Management Statement For the 6 months ended 30 June 2011 British Smaller Companies VCT 2 plc ( the Company ) today announces its unaudited
More informationPress Release 9 September STM Group Plc. ("STM", "the Company" or "the Group") Unaudited Interim Results for the six months ended 30 June 2014
Press Release 9 September STM Group Plc ("STM", "the Company" or "the Group") Interim Results for the six months ended STM Group Plc (AIM: STM), the multi-jurisdictional financial services group, is pleased
More informationHSBC Interim Management Statement
12 May 2008 HSBC Interim Management Statement HSBC has made a strong start to the year despite the turbulence in global financial markets. In the first quarter of 2008, HSBC s profit was ahead of the equivalent
More informationHalf Year Results Standard Life plc Analyst and Investor Presentation
Half Year Results 2011 Standard Life plc Analyst and Investor Presentation Disclaimer This presentation may contain certain forwardlooking statements with respect to certain of Standard Life's plans and
More information(a) Business combinations: those prior to the transition date have not been restated onto an IFRS basis.
Telecom plus PLC Adoption of International Financial Reporting Standards The purpose of this document is to provide guidance on the impact of International Financial Reporting Standards as adopted for
More informationSustainable Growth. The Composite Model: Flexibility Strength Resilience Balance Preliminary Results
Sustainable Growth The Composite Model: Flexibility Strength Resilience Balance 2005 Preliminary Results 2 March Aviva 2006 plc 1 Agenda Introduction Financial review Review of the business Richard Harvey
More informationHydrodec Group plc ("Hydrodec", the Company" or the Group ) Unaudited Interim Results
10 September 2018 Hydrodec Group plc ("Hydrodec", the Company" or the Group ) Unaudited Interim Results Hydrodec Group plc (AIM: HYR), the clean-tech industrial oil re-refining group, today announces unaudited
More informationReport for the six months to June 30, 2012
Zurich Insurance Group Half Year Report 2012 Report for the six months to June 30, 2012 About Zurich Zurich is a leading multi-line insurance provider with a global network of subsidiaries and offices.
More informationADAMS PLC INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTH PERIOD ENDED 30 SEPTEMBER 2016
INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTH PERIOD ENDED 30 SEPTEMBER 2016 CONTENTS Page Company information 1 Chairman s statement 2-3 Unaudited statement of comprehensive income 4 Unaudited statement
More informationSolvency and financial condition report Standard Life Assurance Limited
Solvency and financial condition report 2017 Standard Life Assurance Limited Contents Summary 2 A Business and performance 8 A.1 Business 8 A.2 Underwriting performance 10 A.3 Investment performance 12
More informationPress Release 8 March STM Group Plc. ( STM, the Company or the Group ) Preliminary Results
Press Release 8 March 2011 STM Group Plc ( STM, the Company or the Group ) Preliminary Results STM Group Plc (AIM:STM), the cross border financial services provider, announces its preliminary results for
More informationUS INVESTOR ROADSHOW NOVEMBER
US INVESTOR ROADSHOW NOVEMBER 2013 GROUP OVERVIEW FTSE 250 plc with a market capitalisation of c. 2.3bn Leading non-standard lender providing access to credit for those who might otherwise be financially
More informationKEY FEATURES OF YOUR OLD MUTUAL INTERNATIONAL INVESTMENT PORTFOLIO
KEY FEATURES OF YOUR OLD MUTUAL INTERNATIONAL INVESTMENT PORTFOLIO JULY 2017 This document was last reviewed in July 2017. Please confirm with your financial adviser that this is the most up to date document
More informationEuropean Embedded Value (EEV) basis results
Prudential plc Annual Report 2014 275 Section 6 European Embedded Value (EEV) basis results 276 Index to EEV basis results Description of EEV basis reporting In broad terms, IFRS profits for long-term
More informationSales rise in challenging markets
LEGAL & GENERAL GROUP PLC INTERIM MANAGEMENT STATEMENT Stock Exchange Release 13 May 2009 Sales rise in challenging markets Highlights for the 3 months to 31 March 2009 (1) : Worldwide new business 382m
More informationHalf Year Results Standard Life plc Analyst and Investor presentation
Half Year Results 2013 Standard Life plc Analyst and Investor presentation Half Year Results 2013 Record flows driving strong growth in revenue David Nish Chief Executive This presentation may contain
More information2008 Half-Yearly Financial Report
2008 Half-Yearly Financial Report There s more to Prudential. We continued to perform strongly in the first half of 2008 with double-digit growth in new business sales and profits, maintaining the momentum
More informationHighlights - AIB Group interim results 2007
Highlights - AIB Group interim results 2007 Basic earnings per share EUR 114.7c less profit on disposal/development of property (1) EUR (8.3c) adjust for hedge volatility (2) EUR 2.4c Adjusted basic earnings
More informationHalf Year Report 2009
Zurich Financial Services Group Half Year Report 2009 Report for the Six Months ended June 30, 2009 Here to help your world. Financial information Contents Message from the Chairman and CEO 1 Financial
More informationInternational Personal Finance plc
International Personal Finance plc Debt provider presentation September 2017 International Personal Finance plc International consumer finance provider with good profit and returns, and strong balance
More informationBANK OF AMERICA MERRILL LYNCH 19 th Annual Banking & Insurance CEO Conference. 30 September George Culmer Group Chief Financial Officer
BANK OF AMERICA MERRILL LYNCH 19 th Annual Banking & Insurance CEO Conference 30 September 2014 George Culmer Group Chief Financial Officer AGENDA OUR BUSINESS MODEL DELIVERY AGAINST 2011 STRATEGY H1 2014
More information2006 Interim Results. 9 August 2006
2006 Interim Results 9 August 2006 Agenda Introduction Financial review Review of the business Richard Harvey Group Chief Executive Andrew Moss Group Finance Director Richard Harvey Review of AmerUs Tom
More informationGuide to Financial Reporting European Embedded Value and IFRS Results year ended 31 December 2006
Guide to Financial Reporting European Embedded Value and IFRS Results year ended 31 December 2006 This guide to financial reporting is designed to help investors and other users of our financial statements
More informationAVIVA plc Interim results 2005
AVIVA plc Interim results 2005 11 August 2005 Disclaimer This presentation may contain certain forward-looking statements with respect to certain of Aviva s plans and its current goals and expectations
More informationStrategic investment with strong cost discipline
Business and financial review Strategic investment with strong cost discipline 2017 has been another successful year for Schroders, as we delivered record pre-tax and exceptionals profits of 800.3 million,
More informationEuropean Embedded Value (EEV) basis results
European Embedded Value (EEV) basis results Page Post-tax operating profit based on longer-term investment returns 1 Post-tax summarised consolidated income statement 1 Movement in shareholders equity
More informationRisks and uncertainties facing the business
Identifying and managing our risks The Board is responsible for the Group s system of risk management and internal control. Risk management is recognised as an integral part of the Group s activities.
More informationTSB BANKING GROUP PLC RESULTS FOR THE SIX MONTHS TO 30 JUNE KEY PERFORMANCE INDICATORS 6 months to 30 June 2014
RESULTS FOR THE SIX MONTHS TO 30 JUNE KEY PERFORMANCE INDICATORS to 30 June to 31 Dec (1) Change million million Profit before tax (management basis) 78.6 94.6 (16.9)% Profit before tax (statutory basis)
More information2004 Results. April 19, 2005
2004 Results April 19, 2005 Agenda Topic Overview Speaker Dr. Peter Ma Position Chairman & CEO Financial Highlights Dr. Louis Cheung COO & CFO Business Review Dominic Leung Chairman & CEO, Ping An Life
More informationLloyds Bank plc. Half-Year Management Report. For the half-year to 30 June Member of the Lloyds Banking Group
Lloyds Bank plc Half-Year Management Report For the half-year to 30 June 2015 Member of the Lloyds Banking Group FORWARD LOOKING STATEMENTS This document contains certain forward looking statements with
More informationLLOYDS BANKING GROUP PLC ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2017
21 February 2018 LLOYDS BANKING GROUP PLC ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER In accordance with Listing Rule 9.6.1, Lloyds Banking Group plc has submitted today the following document
More informationManagement Consulting Group PLC Interim Results
18 August 2017 10 Fleet Place London EC4M 7RB Tel: +44 (0)20 7710 5000 Fax: +44 (0)20 7710 5001 The information contained within this announcement is deemed by the Group to constitute inside information
More informationMICROGEN plc ( Microgen ) Audited Preliminary Results for the Year Ended. 31 December 2016
8 March 2017 MICROGEN plc ( Microgen ) Audited Preliminary Results for the Year Ended 31 December 2016 Microgen, a leading provider of business critical software and services, reports its audited preliminary
More informationHalf Year Report 2016
Half Year Report 2016 Report for the six months to June 30, 2016 About Zurich Zurich is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees,
More informationHalf Year Results for the Six Months to 31 January 2019
Close Brothers Group plc T +44 (0)20 7655 3100 10 Crown Place E enquiries@closebrothers.com London EC2A 4FT W www.closebrothers.com Registered in England No. 520241 Half Year Results for the Six Months
More informationHansard International Series 2 Fund Range
Hansard International Series 2 Fund Range Series 2 Our internal unit fund range offers funds from a range of fund management groups and covers a variety of risk profiles, asset types, sectors and geographic
More informationFull year results March 2019
Full year results 13 March 2019 Resilient performance against a challenging industry backdrop and weak investor sentiment Profit from continuing operations broadly flat at 650m Net outflows continued but
More informationContents 1 Overview Background Basis and frequency of disclosures Location and verification Scope
Contents 1 Overview...4 1.1 Background...4 1.2 Basis and frequency of disclosures...4 1.3 Location and verification...4 1.4 Scope...4 1.5 Changes to disclosure requirements...4 2 Risk management...5 2.1
More informationAnnual Results for the year ended 31 December Annual Results 2005
Annual Results for the year ended 31 December 2005 Annual Results 2005 CONTENTS Page Presentation of information 2 2005 highlights 3 Results summary 4 PRO FORMA RESULTS 5 Group Chief Executive's review
More informationIofina plc ( Iofina, the Company or the Group ) (LSE AIM: IOF) INTERIM RESULTS
20 September 2018 Iofina plc ( Iofina, the Company or the Group ) (LSE AIM: IOF) INTERIM RESULTS Revenue up 20%; IO#7 production ramps up; Iodine prices up a further 8% Iofina, specialists in the exploration
More informationTHE AUDIT COMMITTEE. The Audit committee report. Committee membership. Responsibilities
The Audit committee report THE AUDIT COMMITTEE John Ramsay Audit Committee Chairman As announced in December 2017, I joined the board on 1 January 2018 and succeeded Paul Spence as chairman of the Audit
More informationCupid plc. Half Yearly Report
Date: 23 September 2014 On behalf of: Embargoed until: Cupid plc ( Cupid, the Company or the Group ) 0700hrs Cupid plc Half Yearly Report Cupid plc (AIM: CUP), the internet dating operator, today announces
More informationWORLD CAREERS NETWORK PLC
Interim statement for the six months to 31 January 2017 Chairman's statement Dear Shareholder I am pleased to present the interim accounts of World Careers Network ("WCN") for the half year to 31 January
More informationThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. GlobalData Plc (the Company )
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. GlobalData Plc (the Company ) 29 March 2018 Proposed acquisition of Research Views Limited, approval
More information