EEV operating profit

Full year
2016
£m

Full year
2015
£m

Post-tax operating profit based on longer-term investment returns
Asia operations 3,199 2,381
US operations 1,968 1,815
UK operations:
UK insurance operations 666 885
M&G 341 358
Prudential Capital 22 18
1,029 1,261
Other income and expenditure (679) (566)
Solvency II and restructuring costs (57) (51)
Interest received from tax settlement 37 -
Post-tax operating profit based on longer-term investment returns 5,497 4,840
Short-term fluctuations in investment returns (507) (1,215)
Effect of changes in economic assumptions (60) 66
Mark to market value movements on core borrowings (4) 221
Loss attaching to the held for sale Korea life business (410) 39
Profit for the year attributable to equity holders of the Company 4,516 3,951

Basis of preparation

The EEV basis results have been prepared in accordance with the amended EEV Principles dated April 2016, prepared by the CFO Forum of major European insurers. The 2016 results for UK insurance operations have been prepared to reflect the Solvency II regime. The 2015 results for UK insurance operations were prepared reflecting the Solvency I basis, being the regime applicable for the year. There is no change to the basis of preparation for Asia and US operations. Where appropriate, the EEV basis results include the effects of adoption EU-endorsed IFRS.

The directors are responsible for the preparation of the supplementary information in accordance with the EEV Principles. The auditors have reported on the 2016 EEV basis results supplement to the Company's statutory accounts for 2016. Their report was (i) unqualified, and (ii) did not include a reference to any matters to which the auditors drew attention by way of emphasis without qualifying their report. Except for the change in presentation of the results of the operating and non-operating results for Asia operations to show separately the contribution from the held for sale Korea life business, the 2015 results have been derived from the EEV basis results supplement to the Company's statutory accounts for 2015. The supplement included an unqualified audit report from the auditors.