Annual Report Summary

Actions, not words

Climate, technology, housing, regeneration, wellbeing: we are delivering at pace on a range of initiatives to address these wide-reaching challenges.

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We have created a culture where people want to deliver the right outcomes and society trusts us.
Sir Nigel Wilson
Group CEO

Performance highlights

Full year dividend


(2020: 17.57p)

Adjusted operating profit


(2020: 2,218m)

Return on equity


(2020: 17.3%)

Solvency II capital coverage ratio


(2020: 175%)

Employee satisfaction index


(2020: 77%)

Operational footprint (Scope 1 and 2 location)

30,706 tCO2e

(2020: 31,640 tCO2e)

The virtuous circle of Inclusive Capitalism

Inclusive capitalism is what we do. It drives our strategy, shapes our culture and has sustainability at its core. We invest retirement premiums directly into our communities, providing opportunities for younger people.

Rethinking retirement

Helping people live better in their later years.

Investing for good

Encouraging the companies we invest in to behave responsibly.

Building infrastructure

Developing essential infrastructure and injecting capital into towns and cities.

Tackling the climate crisis

Taking action for a better world.

Future-proofing society

Investing billions of pounds to help to build a better society for all.

Harnessing technology

Driving inclusivity through digital transformation.


Addressing the climate crisis is embedded in our business operations and in how we invest our assets. We use our scale to influence and support the transition to a low-carbon economy.

Technological innovation

Technological innovation is one of our six growth drivers. From building the data centres that keep businesses connected to supporting our customers, we are investing in technology to build a better future for everyone.

Inclusive capitalism in action

Through our businesses working together, we have transformed Cardiff Central Square. The next stage of development is The Interchange.

Jobs to be created for local people


Gross value added to the city region


Homes created as part of our Build to Rent scheme


Our business model

It is the combination of our strengths and the synergies we achieve from our businesses working together that sets us apart.