Our Financial Strength
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:
- Business and performance
- System of governance
- Risk profile
- Valuation for solvency purposes
- Capital management
Within each of these, we include details of the requirements we should meet.
The report shows we’re financially strong
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 read the latest report here
You can download the report for the year ended 31 December 2023 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).
M&G plc – Single Group Solvency and Financial Condition Report
*Applies to The Prudential Assurance Company Ltd – correct as of 19 March 2024
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© Prudential 2023
"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at 5 Central Way, Kildean Business Park, Stirling, FK8 1FT. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company Limited. The Prudential Assurance Company Limited and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc which is a holding company registered in England and Wales with registered number 11444019 and registered office at 10 Fenchurch Avenue, London EC3M 5AG, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.