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AKG releases latest With Profits Reports

11 March 2021

AKG has published its 2020 UK Life Office With Profits Reports.

Designed to assist advisers, providers and other interested parties in assessing the relative merits of specific with profits funds, the reports aim to provide comprehensive, structured and consistent information, accompanied by AKG’s key analytical assessments of with profits financial strength, future performance and transparency.

The size of with profits business in-force remains considerable (with profits technical provisions totalling nearly £255bn at the end of 2019( and the reports contain analysis and assessment of 189 sub-funds within 72 funds from 23 firms that were active in the UK market at the start of January 2021 (from 20 different groups). The reports cover providers whose with profits technical provisions exceed £150m, supplemented by smaller companies and friendly societies operating in the intermediary market.

Each individual report provides information on the structure and operation of a provider’s with profits fund(s). It also highlights the various risks borne by with profits policyholders and concludes with AKG’s ratings for With Profits Financial Strength, With Profits Future Performance, and With Profits Transparency.

A number of comparative industry-wide tables are also included, covering a range of key metrics.

Matt Ward, communications director, AKG, added: “This year, we’ve included a brand locator table, which enables paraplanners to quickly identify in which company a historic brand now resides.”

Further information can be found here.

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