Performance counter updating error exchange 2016
15 Read more about how we create value 34 Read more about how we manage risk 42 Read more about how we govern our business Our history The following shows the Group's original entities, their various acquisitions and key achievements over the years: Our strategy In order to drive value, the Group looks to undertake management actions which reduce costs, release capital, accelerate cash flows or enhance economic value.The effective management of our risks and the efficient allocation of capital against them is critical in allowing us to achieve our strategic and operational objectives.Manage corporate and strategic activity Hold the financial assets of our policyholders Responsible for providing life companies with all required management services Used by the management services companies to provide policy administration services 12 Read more about our operating structure What we do We create value for our customers by maximising policyholder returns through our specialist expertise and innovative management of closed life funds.We create value for our shareholders by generating profits from the growth of our funds and releasing excess capital as dividends.Policyholders Life company assets Total shareholder return in 2015 Our operating structure The Group functions provide services to Phoenix Life and manage corporate and strategic activity.Based both in Wythall, Birmingham and Juxon House, London, the Group is led by the Group Chief Executive Officer, Clive Bannister.I believe the impact of regulatory developments will change the landscape of the UK life insurance industry, providing Phoenix with a number of opportunities to grow our business."2.Operating companies' cash generation is a measure of cash and cash equivalents, remitted by the Group's operating subsidiaries to the holding companies and is available to cover dividends, bank interest and repayments and other items.4.
Because of this we are able to focus all our energy and expertise on improving their performance without being distracted by the need to win new customers.
The Shareholder Capital coverage ratio of 154% excludes Solvency II own funds and SCR of unsupported with-profit funds and Group pension schemes.
Including the own funds and SCR of unsupported with-profit funds and Group pension schemes items results in a coverage ratio of 130%.7.
For example, certain insurance risk disclosures are dependent on the Group's choices about assumptions and models, which by their nature are estimates.
As such, actual future gains and losses could differ materially from those that the Group has estimated.10.