We have an A+ rating for financial strength from Standard & Poors*
The Solvency II regulatory regime came into force for European insurers on 1 January 2016. This means that we have to publish a Solvency and Financial Condition Report every year. This report gives our policyholders and other interested parties information on the financial strength of our regulated insurance companies, The Prudential Assurance Company Limited (PAC) and Prudential Pensions Limited (PPL).
M&G plc is the parent company of PAC and PPL. Starting from the year ended 31 December 2021, we have been granted approval from the Prudential Regulation Authority to prepare a single Group Solvency and Financial Condition Report that includes the required information for M&G plc, PAC and PPL. In previous years, each company prepared their own report.
We must report on five areas:
Within each of these, we include details of the requirements we should meet.
The Solvency and Financial Condition Report shows that PAC and PPL are financially strong companies. This means we’re able to with stand major market volatility and make sure we continue to meet our commitments to you.
Taking on and managing risk is a key part of our business. The Report contains information on how we manage our risk and capital and how we govern our insurance companies to make sure that we protect you, while providing a return to our shareholders.
You can download the report for the year ended 31 December 2022 by following the link below which will take you to the ‘Regulatory Returns’ section of the M&G plc website. If you’d like to receive a copy through post, or have any queries about these documents, please give us a call on 0800 000 000.
We’re open from 8am to 6pm, Monday to Friday (GMT).
*Applies to The Prudential Assurance Company Ltd – correct as of 15 August 2022
We provide long-term savings and protection products to customers.
We’ve been helping people since 1848. Back then, it was life assurance and loans for professional people.
We want to build a long-term relationship with you. But sometimes things do go wrong. See the complaints we’ve dealt with when that happens