Contents of Non-Participatory Reports

For AKG Provider Financial Strength Assessment Reports

The information currently included in each Non-Participatory Report in AKG's series of Provider 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.


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).

Company Analysis

Basic Information

  • Company Type

The generic type of company (e.g. Life Insurer).

  • Ownership & Controller

The ultimate owner and controller, which may be different to, the company (or the majority owner if there is more than one). 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 information.

  • 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.


An outline of key operational elements within the organisation, including that company's system of governance and how this is arranged.


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.

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

Financials (Life Insurance Company)

  • Assets

A table showing the breakdown of the company's long-term business assets over the company's last three accounting periods, valued on a Solvency II basis.

  • Liabilities

A table showing the company’s long-term business liabilities over the company’s last three accounting periods. Liabilities are split as the following:

  • Technical Provisions - non-life
  • Technical Provisions - health (similar to life)
  • Technical Provisions - life
  • Technical Provisions - linked
  • Other

Excess of assets over liabilties is the amount by which Assets (from the previous table) are in excess of Liabilities, at each reporting period end.

  • Life & Health SLT Technical Provisions

Technical provisions representing the amount that the insurance company would have to pay in order to transfer its obligations immediately to another insurance company, in respect of Life or Health contracts written on a similar technical basis as life insurance (i.e. long term business); SLT stands for "Similar to Life Techniques". The technical provisions consist of a best estimate liability and a risk margin.

  • Gross Life Premiums Written By Line of Business

Gross Written Premiums (GWP) on life insurance business, broken down into each reported business line.

  • Solvency Capital Requirement (SCR)

Details of he company's solvency requirement, broken down by type of risk.

  • Own Funds

A table showing the company's total eligible own funds to meet SCR, classified into tiers of capital. This is shown as at the end of the last three accounting periods, as available. The excess of own funds over the SCR is also shown together with the SCR Ratio, which is a key indicator of coverage.

  • Profit

A table showing the company's profits in each of the last three accounting periods, showing, profit/loss before tax, tax, profit/loss after tax, other comprehensive income, dividends and retained profit/loss.

  • Flows

A table showing net life premiums earned and net life claims incurred together with the resultant in-flow or out-flow, being the difference between premiums and claims. 

Financials (other types of company)

  • 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 CRR 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 liabilties, decreases or any other significant changes in the owners' equity/ financial interest in the business, over the lastest three reporting periods.

  • Income Statement

Previously referred to as the 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.

  • Assets under Management (AuM)

Sometimes also called 'funds under management' (FUM), this is a measure of the total 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 period. 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 definition

  • Overall Financial Strength Rating

About AKG

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