Finance plays a role in everybody’s life, and good financial companies are those which connect with customers’ lives accordingly. They facilitate household budgeting and long term saving, enable people to get through the financial consequences of unfortunate or catastrophic events and are there for customers when they are needed.
In addition to our role of delivering returns for our shareholders and customers we believe that as a business, we have a responsibility to take a position of leadership in broader society. We must ensure that we relate to the day-to-day lives and concerns of our customers, and as a shareholder we must set new and higher standards of stewardship and engagement with the businesses in which we invest.
Our purpose
Our product range is designed to reflect the risk, savings and investment needs of our customers at various key stages of their lives. In return, we provide benefits to our customers and our wider society as a whole.
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Customers |
Businesses |
Products |
Benefits to customers |
Public policy benefit |
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Individuals and corporates |
Risk – safeguarding customers against financial risks |
Customers pay up front premiums in return for insurance, individual protection and annuities. |
Deliver on our promise to customers and pay claims that enable individuals to cope with the financial consequences of unforeseen events, such as bereavement, illness, damage to property and running out of savings in old age. |
The provision of these benefits reduces the likelihood of people having to fall back on the state as a result of loss of income, homelessness or poverty in retirement. This in turn benefits society by reducing pressure on strained public finances. |
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Savings – financial planning, savings and investments |
Customers invest funds through unit trusts, [ISAs], investment funds, pensions, index funds. |
Our products enable people to save for the medium and long term, either individually or through employer schemes, and to build funds which provide a secure income in retirement. We act as a steward of our customers’ money. | ||
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Investment management – investing on behalf of institutional and retail customers |
