Financial highlights
Investment grade credit rating achieved from Fitch Ratings, with the Group's two principal operating life companies being assigned an Insurer Financial Strength rating of "A"
£110 million of cash generation1 in H1 2015 (HY14: £332 million). The Group remains on track to achieve cash generation targets of £200 million - £250 million in 2015 and £2.8 billion between 2014 - 2019
£84 million of incremental MCEV enhancement achieved in H1 2015, on track to meet the incremental MCEV target of £400 million between 2014 - 2016 having achieved £345 million from management actions
Group MCEV of £2.6 billion at 30 June 2015 (FY14: £2.6 billion)
Group IFRS operating profit of £135 million in H1 2015 including £23 million from management actions (HY14: £266 million, including £114 million from management actions)
Financial Leverage of 39.2% at 30 June 2015 (FY14: 39.3%), with £60 million of bank debt amortisation paid in H1 2015
IGD surplus of £1.6 billion and IGD headroom of £0.8 billion at 30 June 2015 (FY14: £1.2 billion and £0.5 billion respectively)3
PLHL ICA surplus of £0.7 billion and PLHL ICA headroom of £0.6 billion at 30 June 2015 (FY14: £0.7 billion and £0.6 billion respectively)3
Interim dividend of 26.7p per share, in line with 2014 interim and final dividends, demonstrating our commitment to a stable and sustainable dividend for shareholders
