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Insurance business - Schedule of insurance service result (Details) - GBP (£)
£ in Millions
6 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Total insurance revenue      
Insurance revenue £ 1,650 £ 1,558 £ 1,450
Total insurance service expense      
Total insurance service expense (1,339) (1,176) (1,238)
Net (expense) income from reinsurance contracts held (23) (9) 11
Insurance service result 288 373 223
Life      
Total insurance revenue      
Contractual service margin recognised for services provided 216 169 160
Change in risk adjustments for non-financial risk for risk expired 27 54 30
Expected incurred claims and other insurance services expenses 977 952 955
Charges to funds in respect of policyholder tax and other 68 67 20
Insurance revenue, amounts relating to changes in liability for remaining coverage 1,288 1,242 1,165
Recovery of insurance acquisition cash flows 56 47 40
Insurance revenue 1,344 1,289 1,205
Total insurance service expense      
Incurred claims and other directly attributable expenses (961) (931) (966)
Changes that relate to past service: adjustment to liabilities for incurred claims 3 1 (1)
Changes that relate to future service: losses and reversal of losses on onerous contracts (46) 84 (26)
Amortisation of insurance acquisition cash flows (56) (48) (40)
Net impairment loss on insurance acquisition assets (8) (7) 0
Total insurance service expense (1,068) (901) (1,033)
Non-life      
Total insurance revenue      
Insurance revenue 306 269 245
Total insurance service expense      
Total insurance service expense £ (271) £ (275) £ (205)