The
Profit after tax also jumped by eight per cent, the equivalent of £90m, to £1.15bn.
The financial services giant boasted that it has continued its 13-year long streak of no defaults.
Meanwhile, the group shrank its net debt costs by 10 per cent, from £120m to £108m in the first six months of the year.
The City titan has, since 2020, also snagged £4.3bn worth of cash generation and £4.1bn of capital generation.
"Our balance sheet is strong and highly resilient, with a solvency ratio of 212 per cent and with 100 per cent of cash flows received from our direct investments," CEO Sir
"We are committed to providing financial security for our customers and colleagues in a tough economic climate and remain confident in our ability to grow profits sustainably and at attractive returns over the long term."
(c) 2022 City A.M., source