Company: LLOBF
Filing Date: 2025-07-24
Form Type: 6-K
Source: 0001160106-25-000034
Chunk: 43

Company: Lloyds Banking Group plc
Filing Date: 2025-07-24
Form: 6-K
Chunk 43
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901 |                  |     | -887 |     |                            | -4,191 |     |         | 29 |     | -124,950 |
| At 31 December2024                                                                  |                                   |          |                  |     |      |     |                            |        |     |         |    |     |          |
| Insurance contract assets                                                           |                                   |        – |                  |     |    – |     |                            |      – |     |         |  – |     |        – |
| Liabilities arising from insurance contracts andparticipating investment contracts1 |                                   | -117,111 |                  |     | -874 |     |                            | -4,102 |     |         |  – |     | -122,087 |
| Other liabilities2                                                                  |                                   |   -5,268 |                  |     |    – |     |                            |      – |     |         |  – |     |   -5,268 |
| Net liability                                                                       |                                   | -122,379 |                  |     | -874 |     |                            | -4,102 |     |         |  – |     | -127,355 |
| Insurance acquisition assets                                                        |                                   |        – |                  |     |    – |     |                            |      – |     |         | 23 |     |       23 |
| Insurance and participating investment contracts netliability                       |                                   | -122,379 |                  |     | -874 |     |                            | -4,102 |     |         | 23 |     | -127,332 |

1 Excluding insurance acquisition assets.

2 Liabilities arising from insurance contracts relating to the disposal of the Group's bulk annuity business have been classified as

disposal group liabilities.

On 13 March 2024, the Group entered into a business transfer agreement with Rothesay Life plc for the sale of the

Group’s bulk annuity business and to pursue the transfer of associated business assets and assumed liabilities

under Part VII of the Financial Services and Markets Act 2000. A reinsurance agreement between the Group and

Rothesay Life plc was signed on 30 April 2024 to materially de-risk the Group’s bulk annuity portfolio. The Part VII

transfer was completed on 11 June 2025.

At 31 December 2024, the Group presented the assets and liabilities relating to the bulk annuity business, including

the reinsurance contract assets arising from the agreement between the Group and