Under Solvency II Pillar 3 regulations Aegon and other insurers are required to publish what’s known as a Solvency and Financial Condition Report (SFCR).
For 2025, Aegon UK Group, including Scottish Equitable plc, has been granted approval under a waiver from the PRA to prepare a single Group SFCR in respect of Aegon UK plc and its subsidiaries. This can be viewed below and will be published annually. Pre-2025 versions for both Aegon UK Group and Scottish Equitable plc can be found in the 'previous reports' section below.
A. Business and Performance
This section gives an overview of the business and underwriting, investment and other activity performance over the year.
B. System of Governance
This section gives general information on the systems of governance and covers the fit and proper persons requirements and the company’s risk management system including the Own Risk and Solvency Assessment (ORSA). It also covers functions such as internal audit, actuarial and outsourcing arrangements.
C. Risk Profile
This section covers risk categories including underwriting, market, credit, liquidity and operational risk.
D. Valuation for Solvency Purposes
This section explains the methodology differences between IFRS and Solvency II, and provides a reconciliation between the two, identifying classification and valuation differences.
E. Capital Management
This section provides an analysis and explanation of our Own Funds, Solvency Capital Requirement and Minimum Capital Requirement.