v3.25.4
Other assets (Tables)
 12 Months Ended
Dec. 31, 2025
Disclosure of detailed information about property, plant and equipment [abstract]  
Schedule of Other Assets
2025
£m
2024
£m
Insurance contract assets
113
–
Reinsurance contract assets2
401
422
Investment in joint ventures and associates
445
542
Property, plant and equipment:
Investment properties (see below)
3,917
3,281
Premises
1,126
1,100
Equipment
901
879
Operating lease assets (see below)
8,213
7,265
Right-of-use assets (note 25)
759
872
14,916
13,397
Prepayments
1,792
1,634
Disposal group assets1:
Deferred tax assets
–
13
Goodwill
–
50
Reinsurance contract assets2
–
5,059
–
5,122
Other assets
2,988
3,671
Total other assets
20,655
24,788
1See Note 8 (C) for further detail.
2The Group’s reinsurance contract assets have decreased by £5,080 million from £5,481 million to £401 million predominantly as a result of the completion of the part VII transfer of
insurance contract liabilities to Rothesay Life plc in relation to the Group’s bulk annuity business and the conclusion of the associated reinsurance agreement.
Schedule of Property, Plant and Equipment The table below analyses movements in
level 3 investment properties, which are carried at fair value.
2025
£m
2024
£m
At 1 January
3,281
2,862
Acquisition of new properties
606
640
Additional expenditure on existing properties
10
26
Change in fair value
99
67
Disposals and other movements
(79)
(314)
At 31 December
3,917
3,281
Schedule of Future Minimum Rentals Receivable under Non-Cancellable Operating Leases At 31 December the future
minimum rentals receivable under non-cancellable operating leases were as follows:
Within 1 year
£m
1 to 2 years
£m
2 to 3 years
£m
3 to 4 years
£m
4 to 5 years
£m
Over 5 years
£m
Total
£m
At 31 December 2025
1,911
1,131
1,072
483
124
16
4,737
At 31 December 2024
1,577
956
821
365
85
6
3,810
Equipment leased to customers under operating leases primarily relates to vehicle contract hire arrangements. Operating lease assets are
comprised as follows:
2025
£m
2024
£m
Electric vehicles
4,534
3,894
Internal combustion engine vehicles
1,641
1,630
Self-charging hybrid vehicles
125
166
Plug-in hybrid vehicles
1,905
1,575
Other
8
–
Total operating lease assets
8,213
7,265