Foreign Insurance Policy

Hi, I had a part surrender on my foreign insurance policy ended in May 2022, the policy was issued in 2005. I was not an UK resident when the policy issued. Do I need to report the gain (if have) in the tax year 2022-23 for the part surrender? For your information, I was an UK resident from 2021. Thank you, 

Hi

As a UK tax resident, yes. Please refer to further guidance at Gains on foreign life insurance policies (Self Assessment helpsheet HS321)

Thank you