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  "documentTitle": "M&G | Results Presentation Deck | 65 slides",
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  "authorName": "M&G",
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  "presentationDate": "2024-03-01 00:00:00",
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      "text": "1,457; 106; 304; 265; 782; 62; (73); 11; 1,457; 106 Head Office; 301 Life; 258 Wealth; 791 Asset Management",
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      "text": "Growth investments\n£6m to support Asset Mgmt. growth:\nBuilt out Asian Public Fixed\nIncome capabilities in Singapore\nStrengthened Asian and European\nInstitutional distribution teams\n£5m to support re-entry in BPA market\nAdded pricing, actuarial and\nbusiness development capabilities\nLegal costs related to new deals",
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      "text": "Cost action\nSuccessfully completed the first year\nof the transformation programme\nReduced change and IFRS 17 spend\nthrough better prioritisation/control\nAchieved £73m in year-benefits\nequivalent to a £90m exit run-rate",
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      "text": "M&G managed cost base¹\nchanges over 2023 (£m)",
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      "text": "1. Managed costs defined as 'operational cost relating to the normal running of the business, excluding expenses relating to dividends, financing costs (e.g. interest payments on leases and bank balances, impact of funds revaluations, corporate tax charges) and external asset management expenses incurred\nby the Group's insurance businesses (e.g. fees to third party fund managers, movements in deferred income / deferred acquisitions costs)'; 2022 baseline includes a £26m adjustment to reflect the full year impact of responsAbility, Sandringham, Moneyfarm and TCF acquisitions",
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