Principles and Practices of Financial Management (PPFM)
The Financial Services Authority (FSA) requires all companies that write with-profits business to produce their own PPFM. The purpose of our PPFM is to :
- help investors understand how we manage our with-profits business
- provide details on the governance procedures for such business
The PPFM is very detailed as it is designed to provide the necessary information to Financial Advisers and the FSA to enable them to assess the way we manage our with-profits funds.
Consumer-friendly Principles and Practices of Financial Management (CFPPFM)
From the 31 December 2005, the FSA has required companies to produce a consumer-friendly version of the PPFM. This document, the CFPPFM, should be read with the full PPFM, and covers the main points of the PPFM but in a more straightforward way.
As part of our ongoing commitment to improve our communications to our customers, we have recently improved the format and clarity of our CFPPFM. To make it easier to follow, we've also split it into 4 versions that cover the different types of our with-profits contracts.
Annual Report on our
With-profits business
Also available is:
An annual report, produced by our Directors, together with a statement from our With-Profits Actuary, confirming whether, throughout the financial year, we have complied with the PPFM, setting out the reasons for that belief. The report also looks at how account has been taken of the interests of with-profits policyholders.
Equity Backing Ratios
View the Equity Backing Ratio figures for our with-profits contracts
