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Insurance business - (D) Reconciliation of insurance balances for liability for remaining coverage and liability for incurred claims (Details) - GBP (£)
£ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items]      
Net liability at 1 January £ (120,147)    
Net liability at 31 December (127,355) £ (120,147)  
Life      
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items]      
Net liability at 1 January (119,783) (109,920)  
Contracts under the modified retrospective approach 0 0  
Contracts under the fair value transition approach 1,498 1,467  
Other contracts 1,138 1,027  
Insurance revenue 2,636 2,494  
Increase (decrease) through insurance service expenses, insurance contracts liability (asset) (2,159) (1,927)  
Insurance service result 477 567  
Net finance income (expense) from insurance and participating investment contracts (10,381) (11,684)  
Exchange differences 80 32  
Total change in profit or loss (9,824) (11,085)  
Investment components 0 0  
Premiums received (10,679) (9,768)  
Claims and other insurance service expenses paid 13,063 10,721  
Insurance acquisition cash flows 265 203  
Cash flows 2,649 1,156  
Transfer to other items in the balance sheet (10) 66  
Net liability at 31 December (126,968) (119,783) £ (109,920)
Losses and reversal of losses on onerous insurance contracts (72) 58  
Amortisation of insurance acquisition cash flows (105) (88) (85)
Life | Excluding loss component £m      
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items]      
Net liability at 1 January (118,724) (108,846)  
Contracts under the modified retrospective approach 0 0  
Contracts under the fair value transition approach 1,498 1,467  
Other contracts 1,138 1,027  
Insurance revenue 2,636 2,494  
Increase (decrease) through insurance service expenses, insurance contracts liability (asset) (105) (88)  
Insurance service result 2,531 2,406  
Net finance income (expense) from insurance and participating investment contracts (10,371) (11,576)  
Exchange differences 80 32  
Total change in profit or loss (7,760) (9,138)  
Investment components 10,205 8,793  
Premiums received (10,679) (9,768)  
Claims and other insurance service expenses paid 849 0  
Insurance acquisition cash flows 265 203  
Cash flows (9,565) (9,565)  
Transfer to other items in the balance sheet (10) 32  
Net liability at 31 December (125,854) (118,724) (108,846)
Life | Loss component £m      
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items]      
Net liability at 1 January (466) (471)  
Contracts under the modified retrospective approach 0 0  
Contracts under the fair value transition approach 0 0  
Other contracts 0 0  
Insurance revenue 0 0  
Increase (decrease) through insurance service expenses, insurance contracts liability (asset) (44) 110  
Insurance service result (44) 110  
Net finance income (expense) from insurance and participating investment contracts (5) (105)  
Exchange differences 0 0  
Total change in profit or loss (49) 5  
Investment components 0 0  
Premiums received 0 0  
Claims and other insurance service expenses paid 0 0  
Insurance acquisition cash flows 0 0  
Cash flows 0 0  
Transfer to other items in the balance sheet 0 0  
Net liability at 31 December (515) (466) (471)
Life | Liability for incurred claims £m      
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items]      
Net liability at 1 January (593) (603)  
Contracts under the modified retrospective approach 0 0  
Contracts under the fair value transition approach 0 0  
Other contracts 0 0  
Insurance revenue 0 0  
Increase (decrease) through insurance service expenses, insurance contracts liability (asset) (2,010) (1,949)  
Insurance service result (2,010) (1,949)  
Net finance income (expense) from insurance and participating investment contracts (5) (3)  
Exchange differences 0 0  
Total change in profit or loss (2,015) (1,952)  
Investment components (10,205) (8,793)  
Premiums received 0 0  
Claims and other insurance service expenses paid 12,214 10,721  
Insurance acquisition cash flows 0 0  
Cash flows 12,214 10,721  
Transfer to other items in the balance sheet 0 34  
Net liability at 31 December (599) (593) (603)
Non-life      
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items]      
Net liability at 1 January (364) (380)  
Contracts under the modified retrospective approach 0 0  
Contracts under the fair value transition approach 0 0  
Other contracts 655 514  
Insurance revenue 655 514  
Increase (decrease) through insurance service expenses, insurance contracts liability (asset) (565) (480)  
Insurance service result 90 34  
Net finance income (expense) from insurance and participating investment contracts (7) (6)  
Total change in profit or loss 83 28  
Premiums received (659) (525)  
Claims and other insurance service expenses paid 524 475  
Insurance acquisition cash flows 29 38  
Cash flows (106) (12)  
Net liability at 31 December (387) (364) (380)
Losses and reversal of losses on onerous insurance contracts 0 1  
Amortisation of insurance acquisition cash flows (32) (30)  
Non-life | Excluding loss component £m      
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items]      
Net liability at 1 January (25) (22)  
Contracts under the modified retrospective approach 0 0  
Contracts under the fair value transition approach 0 0  
Other contracts 655 514  
Insurance revenue 655 514  
Increase (decrease) through insurance service expenses, insurance contracts liability (asset) (32) (30)  
Insurance service result 623 484  
Net finance income (expense) from insurance and participating investment contracts 0 0  
Total change in profit or loss 623 484  
Premiums received (659) (525)  
Claims and other insurance service expenses paid 0 0  
Insurance acquisition cash flows 29 38  
Cash flows (630) (487)  
Net liability at 31 December (32) (25) (22)
Non-life | Loss component £m      
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items]      
Net liability at 1 January 0 (1)  
Contracts under the modified retrospective approach 0 0  
Contracts under the fair value transition approach 0 0  
Other contracts 0 0  
Insurance revenue 0 0  
Increase (decrease) through insurance service expenses, insurance contracts liability (asset) 0 1  
Insurance service result 0 1  
Net finance income (expense) from insurance and participating investment contracts 0 0  
Total change in profit or loss 0 1  
Premiums received 0 0  
Claims and other insurance service expenses paid 0 0  
Insurance acquisition cash flows 0 0  
Cash flows 0 0  
Net liability at 31 December 0 0 (1)
Non-life | Liability for incurred claims £m      
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items]      
Net liability at 1 January (339) (357)  
Contracts under the modified retrospective approach 0 0  
Contracts under the fair value transition approach 0 0  
Other contracts 0 0  
Insurance revenue 0 0  
Increase (decrease) through insurance service expenses, insurance contracts liability (asset) (533) (451)  
Insurance service result (533) (451)  
Net finance income (expense) from insurance and participating investment contracts (7) (6)  
Total change in profit or loss (540) (457)  
Premiums received 0 0  
Claims and other insurance service expenses paid 524 475  
Insurance acquisition cash flows 0 0  
Cash flows 524 475  
Net liability at 31 December £ (355) £ (339) £ (357)