Report of Directors Financial Review Risk Report - Consensus upside and downside scenarios (Details)
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12 Months Ended |
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Dec. 31, 2025
USD ($)
economicScenario
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Dec. 31, 2024 |
| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Number of economic scenarios | economicScenario |
4
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| Consensus upside scenario | UK | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
11.00%
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11.30%
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| Consensus upside scenario | UK | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
3.20%
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3.50%
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| House prices (annual average growth rate, %) |
20.00%
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24.20%
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| Inflation (annual average growth rate, %) |
3.50%
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1.40%
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| Central bank policy rate (annual average, %) |
3.90%
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3.60%
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| Consensus upside scenario | US | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
15.20%
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13.60%
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| Consensus upside scenario | US | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
3.50%
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3.60%
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| House prices (annual average growth rate, %) |
23.20%
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23.60%
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| Inflation (annual average growth rate, %) |
3.60%
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1.60%
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| Central bank policy rate (annual average, %) |
3.90%
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3.60%
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| Consensus upside scenario | Hong Kong | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
20.70%
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21.40%
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| Consensus upside scenario | Hong Kong | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
2.80%
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2.90%
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| House prices (annual average growth rate, %) |
19.40%
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25.30%
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| Inflation (annual average growth rate, %) |
2.90%
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(0.10%)
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| Central bank policy rate (annual average, %) |
4.20%
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4.00%
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| Consensus upside scenario | Mainland China | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
28.60%
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27.50%
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| Consensus upside scenario | Mainland China | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
4.70%
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4.90%
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| House prices (annual average growth rate, %) |
14.90%
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9.80%
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| Inflation (annual average growth rate, %) |
1.50%
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(1.00%)
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| Central bank policy rate (annual average, %) |
3.40%
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2.70%
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| Consensus upside scenario | France | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
8.50%
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8.90%
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| Consensus upside scenario | France | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
6.60%
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6.40%
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| House prices (annual average growth rate, %) |
22.60%
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22.80%
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| Inflation (annual average growth rate, %) |
2.40%
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0.10%
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| Central bank policy rate (annual average, %) |
2.50%
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1.40%
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| Consensus upside scenario | UAE | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
29.00%
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28.90%
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| Consensus upside scenario | UAE | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
2.00%
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2.20%
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| House prices (annual average growth rate, %) |
22.20%
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26.10%
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| Inflation (annual average growth rate, %) |
3.10%
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0.60%
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| Central bank policy rate (annual average, %) |
3.90%
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3.60%
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| Consensus upside scenario | Mexico | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
16.90%
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13.60%
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| Consensus upside scenario | Mexico | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
2.80%
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3.00%
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| House prices (annual average growth rate, %) |
29.50%
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31.70%
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| Inflation (annual average growth rate, %) |
4.20%
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3.10%
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| Central bank policy rate (annual average, %) |
8.10%
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7.60%
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| Consensus downside scenario |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| US tariff rate |
19.00%
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| Oil price per barrel, minimum |
$ 40
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| Consensus downside scenario | UK | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(0.20%)
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(1.00%)
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| Consensus downside scenario | UK | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
6.20%
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6.10%
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| House prices (annual average growth rate, %) |
(4.10%)
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(4.50%)
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| Inflation (annual average growth rate, %) |
1.30%
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3.40%
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| Central bank policy rate (annual average, %) |
2.20%
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5.00%
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| Consensus downside scenario | US | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(0.80%)
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(0.60%)
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| Consensus downside scenario | US | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
5.30%
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5.30%
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| House prices (annual average growth rate, %) |
(3.10%)
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(0.20%)
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| Inflation (annual average growth rate, %) |
3.40%
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4.50%
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| Central bank policy rate (annual average, %) |
4.60%
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4.80%
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| Consensus downside scenario | Hong Kong | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(1.70%)
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(4.50%)
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| Consensus downside scenario | Hong Kong | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
4.80%
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5.10%
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| House prices (annual average growth rate, %) |
(3.80%)
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(1.90%)
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| Inflation (annual average growth rate, %) |
0.10%
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3.10%
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| Central bank policy rate (annual average, %) |
5.00%
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5.20%
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| Consensus downside scenario | Mainland China | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(1.70%)
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(2.50%)
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| Consensus downside scenario | Mainland China | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
6.80%
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6.90%
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| House prices (annual average growth rate, %) |
(5.60%)
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(12.80%)
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| Inflation (annual average growth rate, %) |
(2.90%)
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2.00%
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| Central bank policy rate (annual average, %) |
1.50%
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3.00%
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| Consensus downside scenario | France | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(0.40%)
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(0.60%)
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| Consensus downside scenario | France | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
8.60%
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8.30%
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| House prices (annual average growth rate, %) |
0.70%
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(0.30%)
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| Inflation (annual average growth rate, %) |
0.40%
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2.60%
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| Central bank policy rate (annual average, %) |
0.60%
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3.20%
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| Consensus downside scenario | UAE | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
0.40%
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0.30%
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| Consensus downside scenario | UAE | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
3.20%
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3.40%
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| House prices (annual average growth rate, %) |
(3.40%)
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(0.40%)
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| Inflation (annual average growth rate, %) |
0.50%
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2.80%
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| Central bank policy rate (annual average, %) |
4.60%
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4.80%
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| Consensus downside scenario | Mexico | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(1.00%)
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(2.10%)
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| Consensus downside scenario | Mexico | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
3.80%
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4.10%
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| House prices (annual average growth rate, %) |
0.60%
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2.10%
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| Inflation (annual average growth rate, %) |
4.70%
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7.40%
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| Central bank policy rate (annual average, %) |
9.50%
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11.50%
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| Downside 2 scenario |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| US tariff rate |
25.00%
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| Oil price per barrel, minimum |
$ 30
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| Downside 2 scenario | UK | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(5.30%)
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(9.10%)
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| Downside 2 scenario | UK | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
8.90%
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8.40%
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| House prices (annual average growth rate, %) |
(24.20%)
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(27.20%)
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| Inflation (annual average growth rate, %) |
(1.90%)
|
10.10%
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| Central bank policy rate (annual average, %) |
1.40%
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5.50%
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| Downside 2 scenario | US | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(4.50%)
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(4.10%)
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| Downside 2 scenario | US | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
9.00%
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9.30%
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| House prices (annual average growth rate, %) |
(17.10%)
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(15.80%)
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| Inflation (annual average growth rate, %) |
4.10%
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4.90%
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| Central bank policy rate (annual average, %) |
4.70%
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5.50%
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| Downside 2 scenario | Hong Kong | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(9.30%)
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(10.10%)
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| Downside 2 scenario | Hong Kong | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
7.00%
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7.10%
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| House prices (annual average growth rate, %) |
(19.60%)
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(34.40%)
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| Inflation (annual average growth rate, %) |
(1.70%)
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3.60%
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| Central bank policy rate (annual average, %) |
5.00%
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5.90%
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| Downside 2 scenario | Mainland China | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(6.00%)
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(8.70%)
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| Downside 2 scenario | Mainland China | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
7.00%
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7.10%
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| House prices (annual average growth rate, %) |
(23.10%)
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(30.50%)
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| Inflation (annual average growth rate, %) |
(6.50%)
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3.80%
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| Central bank policy rate (annual average, %) |
1.20%
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3.50%
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| Downside 2 scenario | France | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(6.20%)
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(7.90%)
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| Downside 2 scenario | France | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
10.70%
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10.40%
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| House prices (annual average growth rate, %) |
(5.90%)
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(14.00%)
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| Inflation (annual average growth rate, %) |
(0.60%)
|
7.60%
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| Central bank policy rate (annual average, %) |
0.10%
|
4.20%
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| Downside 2 scenario | UAE | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(5.70%)
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(6.80%)
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| Downside 2 scenario | UAE | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
3.90%
|
5.00%
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| House prices (annual average growth rate, %) |
(30.50%)
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(13.20%)
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| Inflation (annual average growth rate, %) |
0.30%
|
3.70%
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| Central bank policy rate (annual average, %) |
4.70%
|
5.60%
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| Downside 2 scenario | Mexico | Less than 1 year |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| GDP (annual average growth rate, %) |
(10.00%)
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(10.50%)
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| Downside 2 scenario | Mexico | 1–2 years |
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| Disclosure of sensitivity analysis for actuarial assumptions [line items] |
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| Unemployment rate (%) |
5.20%
|
5.60%
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| House prices (annual average growth rate, %) |
0.60%
|
2.00%
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| Inflation (annual average growth rate, %) |
4.80%
|
7.90%
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| Central bank policy rate (annual average, %) |
9.90%
|
12.10%
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