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Insurance business - (B) Net investment return on assets held to back insurance and investment contracts and net insurance finance (expense) income arising from insurance and investment contracts (Details) - GBP (£)
£ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disclosure of analysis of insurance revenue [line items]      
Net gains (losses) on other financial instruments mandatorily held at fair value through profit or loss £ 17,096 £ 16,653 £ (17,210)
Foreign exchange 1,003 1,418 (1,063)
Investment property gains (losses) (note 24) 67 (87) (511)
Net trading income (losses) 17,825 18,049 (19,987)
Interest accreted 12,277 13,298 12,922
Net finance expense from insurance and participating investment contracts (16,278) (16,776) 20,887
Net finance (expense) income from insurance, participating investment and reinsurance contracts (10,341) (11,684) 15,893
Income (expense) from unit-linked and with-profit contracts, variable fee approach 10,688 10,200 (11,081)
Life      
Disclosure of analysis of insurance revenue [line items]      
Net finance (expense) income from insurance, participating investment and reinsurance contracts (10,334) (11,678) 15,895
Non-life      
Disclosure of analysis of insurance revenue [line items]      
Net finance (expense) income from insurance, participating investment and reinsurance contracts (7) (6) (2)
Liabilities arising from insurance and participating investment contracts      
Disclosure of analysis of insurance revenue [line items]      
Net gains (losses) on other financial instruments mandatorily held at fair value through profit or loss 10,285 11,253 (14,867)
Foreign exchange 196 542 (1,039)
Investment property gains (losses) (note 24) (4) (4) (3)
Net trading income (losses) 10,477 11,791 (15,909)
Net investment return on assets held to back third party interests in consolidated funds 1,105 1,179 (968)
Net investment return on assets held to back non-participating investment contracts 4,431 3,772 (4,022)
Net investment return on assets held to back insurance and investment contracts 16,013 16,742 (20,899)
Changes in fair value of underlying items of direct participating contracts (10,844) (10,293) 11,212
Effects of risk mitigation option 161 172 (118)
Interest accreted (846) (880) (352)
Effect of changes in interest rates and other financial assumptions 1,001 (654) 5,226
Effect of changes in fulfilment cash flows at current rates when CSM is unlocked at locked-in rates 140 (80) (20)
Net finance expense from insurance and participating investment contracts (10,388) (11,735) 15,948
Liabilities arising from insurance and participating investment contracts | Life      
Disclosure of analysis of insurance revenue [line items]      
Net gains (losses) on other financial instruments mandatorily held at fair value through profit or loss 10,247 11,218 (14,876)
Foreign exchange 196 542 (1,039)
Investment property gains (losses) (note 24) (4) (4) (3)
Net trading income (losses) 10,439 11,756 (15,918)
Changes in fair value of underlying items of direct participating contracts (10,844) (10,293) 11,212
Effects of risk mitigation option 161 172 (118)
Interest accreted (839) (874) (350)
Effect of changes in interest rates and other financial assumptions 1,001 (654) 5,226
Effect of changes in fulfilment cash flows at current rates when CSM is unlocked at locked-in rates 140 (80) (20)
Net finance expense from insurance and participating investment contracts (10,381) (11,729) 15,950
Liabilities arising from insurance and participating investment contracts | Non-life      
Disclosure of analysis of insurance revenue [line items]      
Net gains (losses) on other financial instruments mandatorily held at fair value through profit or loss 38 35 9
Foreign exchange 0 0 0
Investment property gains (losses) (note 24) 0 0 0
Net trading income (losses) 38 35 9
Changes in fair value of underlying items of direct participating contracts 0 0 0
Effects of risk mitigation option 0 0 0
Interest accreted (7) (6) (2)
Effect of changes in interest rates and other financial assumptions 0 0 0
Effect of changes in fulfilment cash flows at current rates when CSM is unlocked at locked-in rates 0 0 0
Net finance expense from insurance and participating investment contracts (7) (6) (2)
Contracts held with reinsurers      
Disclosure of analysis of insurance revenue [line items]      
Net finance income from reinsurance contracts held 47 51 (55)
Contracts held with reinsurers | Life      
Disclosure of analysis of insurance revenue [line items]      
Net finance income from reinsurance contracts held 47 51 (55)
Contracts held with reinsurers | Non-life      
Disclosure of analysis of insurance revenue [line items]      
Net finance income from reinsurance contracts held £ 0 £ 0 £ 0