Our strategy

We use our capabilities, footprint and scale to meet the long-term savings and protection needs of an increasingly self-reliant middle class, creating value for both our customers and our shareholders. We focus on three markets, Asia, the US and the UK, where the need for our products is strong and growing.

We identify markets where our customers’
needs are underserved

To meet these needs we:

1. Focus on customers

Our customers are at the heart of the decisions we make. We focus on understanding our customers’ needs in each of our chosen markets.

We consistently develop our product portfolio around our customers’ needs and peace of mind, whether in relation to saving for retirement or insuring against the risks of illness, death or critical life events.

Distribution plays a key role in our ability to reach, attract and retain our valued customers across the regions in which we operate. Building out and diversifying our distribution capabilities helps to ensure that we meet the needs that we have identified in each of our regions.

2. Leverage scale

Balance sheet strength and proactive risk management enable us to make good our promises to customers and are key drivers of long-term value creation and relative performance. We continue to strengthen our capital position through generation of organic earnings and specific management actions to manage our risk.

3. Allocate capital with discipline

We rigorously allocate capital to the highest-return products and geographical locations with the shortest payback periods, in line with our risk appetite. This has had a positive and significant impact on our capital-generative growing in-force portfolio and, in turn, has transformed the capital dynamics of our Group.

4. Use balanced metrics

We aim to provide clarity and consistency internally and externally in the performance indicators that drive our businesses. Alongside this we develop our financial disclosures to enable our stakeholders to fairly assess our long-term performance. We aim to demonstrate how we generate profits under different accounting regimes; to show how we think about capital allocation via measures that highlight the returns we generate on capital invested in new business; and to highlight the cash generation of our business, which over time is the ultimate measure of performance.