Content of Participatory Reports

For AKG DFM Financial Strength Assessment Reports

The information currently included in each Participatory Report in AKG's series of DFM Financial Strength Assessment Reports is structured as follows:

Inside Front Cover:

About This Financial Strength Assessment

An overview and further insight into Financial Strength and AKG's viewpoint into analysis.

Table of contents

A list of contents found inside the Report.

Contact information

AKG's address, phone number, general email address and website URL.

Rating & Assessment Commentary:


  • Overall Financial Strength Rating(s)

AKG’s assessment (on a scale of A, B+, B, B-, C, D) of the company’s Overall Financial Strength. See the ‘Guide to AKG Ratings’ for further details of the methodology used. Also supporting ratings for Service, Image & Strategy and Business Performance are shown.

  • Additional Financial Strength and Supporting Ratings

Where applicable for insurance companies, more granular financial strength ratings for Non Profit; Unit Linked and With Profits business is shown, see the 'Guide to AKG Ratings' for further details of the methodology used.


A short section consisting of bullet points which condense key contributory factors for the given rating(s) and the assessment.


  • Strength Rating(s)

Further explanatory commentary specifically related to the Strength Rating(s).

  • Supporting Rating(s)

Further explanatory commentary specifically related to the Supporting Ratings.

Group & Parental Context:


A broad overview of the background to the structure of the companies covered by the report. This may include some financial tables where it is appropriate to show them here rather than at the rated company level.

Group Structure (Simplified)

A simplified diagrammatic representation of the relationship between the key companies in the group.

Company Analysis:

Basic Information

  • Ownership & Controller

The ultimate owner and controller, who may be different, to the company (or the majority owner if there is more than one owner). For UK registered companies, this information is disclosed in the company’s statutory accounts. For overseas owners, the country of domicile is also shown.

  • Year Established

The year that the current corporate entity started operating, which is usually the year of incorporation.

  • Country of Registration

The country where the entity is legally constituted or formed and whose laws of business and tax it has to follow in respect of that formation.

  • Head Office

The address of the Head Office (usually defined as the location of the company’s most senior management. Need not necessarily be the company’s registered office address).

  • Contact

A contact telephone number, general email address and the URL of the brand's main website.

  • Key Personnel

A short list of the senior individuals considered to be of most interest to readers, such as chief executive, finance director etc.

  • Company Background

A broad overview of the general background of the company, including any significant historical changes such as predecessor companies, transfers/mergers, name changes etc.


  • Governance System and Structure

An outline of key elements of the company's system of governance and how this is arranged.

  • Risk Management

An outline of key elements of the company's risk management and how this is arranged.

  • Administration

An outline of key elements of the company's internal service/ administrative functions and infrastructure.

  • Benchmarks

Details of measurement (internal and external) presented by the company, or available in the market, on how its service performance compares within internal and/ or external measurement. This might include Awards and Standard Surveys.

  • Outsourcing

Details of any relevant outsourcing arrangements in respect of policy administration and other services.


  • Market Positioning

How the organisation seeks to position itself in the market including the image it aspires to and how this is achieved. This is both currently and in terms of planned future development.

  • Proposition

The organisations existing proposition set (products and services) and its outlook for future development.


  • Capital Resources Disclosures

A table showing, if known, the available capital resources, capital resources requirement (CRR) and excess capital resources at the end of the last three accounting periods. The CRR Coverage Ratio is also shown being capital resources expressed as a percentage of the capital resources requirement at the end of the last three accounting periods.

  • Statement of Financial Position

Previously referred to as the ‘Balance Sheet’, this lists the assets, current and long-term liabilities, and equity, or net assets, of a company on the final date of each of the last three reporting periods.

  • Statement of Changes in Equity

A table showing the equity at the start and end of a reporting period together with any increases, decreases or any other significant changes in the owners’ equity/financial interest in the business, over the latest three reporting periods.

  • Income Statement

Previously referred to as a Profit And Loss Statement (or similar), this shows a company's financial performance over the last three accounting periods, specifically a summary of the revenues generated and expenses incurred (through both operating and non-operating activities) together with any tax, other income, dividend paid and ultimately profits earned and retained.

  • Financial Ratios

A table analysing three key financial ratios in each of the last three accounting periods, where available: operating margin, pre-tax profit margin, and employee costs as a percentage of revenue.

  • Statement Of Cash Flows

Shows how much cash the business generates and how that cash is spent, over the latest three reporting periods, broken down where available into operating, investing and financing activities to show more clearly the sources, and usage, of cash, together with the card and cash equivalents at the end of the reporting period.

  • Assets under Management (AuM)

Sometimes also called 'funds under management' (FUM), this is a measure of the tool market value of all the financial assets which the entity manages on behalf of its clients, on the final date of each of the three reporting periods. AuM is shown at the beginning and end of the reporting period, together with inflows, outflows and market and other movements over the period. The growth rate over the period is shown as a percentage. Net flows are also shown as a percentage of the opening AuM.

  • AKG Comments

Explanatory comments from AKG in respect of the tables and any other relevant financial information, shown throughout, below the relevant tables.




Further explanation into Financial Strength and AKG's focus.

Rating definitions

  • Overall Financial Strength Rating
  • With Profits Financial Strength Rating
  • Unit Linked Financial Strength Rating
  • Non Profit Financial Strength Rating
  • Service Rating
  • Image and Strategy Rating
  • Business Performance Rating


About AKG

A brief overview of AKG as an independent organisation and how it is situated within the market.

Related Links

Contacting AKG

Call us on +44 (0)7765 446438 for more information.

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