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Legal & General Group PLC (LGEN.L)

LGEN.L on London Stock Exchange

29 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Moody's says UK insurers' asset management firms set to capitalize on pensions expertise
Wednesday, 22 Mar 2017 02:21am EDT 

Moody's: UK insurers' asset management firms set to capitalize on pensions expertise . Higher dependence on asset management revenues will increase UK insurers' exposure to tough conditions in the asset management industry, . Believes insurers and fund managers in UK are increasingly competing for same pool of assets and leading to cost convergence in some cases Source http://bit.ly/2nI0dft ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Legal & General says total value of lifetime mortgage AUM of 1 bln pounds
Monday, 13 Mar 2017 05:52am EDT 

Legal & General Group Plc - : Says generated more than 600 million pounds in lifetime mortgage completions bringing total value of lifetime mortgage AUM by group to 1 billion pounds Further company coverage: [LGEN.L] ((bangalore.newsroom@thomsonreuters.com)).  Full Article

Legal & General CEO Nigel Wilson earned $6.4 mln in 2016 -annual report
Wednesday, 8 Mar 2017 05:00am EST 

Legal & General :Ceo nigel wilson earned 5.3 million pounds ($6.44 million) in 2016 -annual report.  Full Article

Legal & General CFO says not planning large M&A deals
Wednesday, 8 Mar 2017 02:52am EST 

Legal & General : Chief financial officer mark gregory ~says insurer has capacity to buy annuity back books, expect them to come on the market "from time to time" . Chief financial officer mark gregory ~ - not planning to participate in large m&a transactions, looking at small "bolt-on" deals Further company coverage: [LGEN.L] (Reporting By Carolyn Cohn) ((carolyn.cohn@thomsonreuters.com;)).  Full Article

Legal & General FY adjusted operating profit rises 11 pct
Wednesday, 8 Mar 2017 02:00am EST 

Legal & General Group Plc : Fy pretax profit rose 17 percent to 1.6 billion stg . Eps 1 up 19% to 22.2p, profit before tax 2 up 17% to £1.6bn . Net release from operations (net cash) 4 up 12% to £1,411m (2015: £1,256m) . Adjusted operating profit 5 up 11% to £1,628m (2015: £1,463m) . Profit after tax up 16% to £1,265m (2015: £1,094m) . Earnings per share up 17% to 21.22p (2015: 18.16p) . Full year dividend up 7% to 14.35p per share (2015: 13.40p) . Adjusted return on equity 6 19.6% (2015: 17.7%) . Solvency ii coverage ratio of 171% (2015: 176%), shareholder basis 7 . Lgr new business of £8.5bn (2015: £2.9bn) . Lgr annuity assets up 25% at £54.4bn (2015: £43.4bn) . Lgim aum up 20% at £894.2bn (2015: £746.1bn) . Our core markets are growing, our market share is increasing, our balance sheet is strong . Currently quoting on c.£13bn of buy-in and buy-out deals in uk . Lifetime mortgage market is expected to grow to £2.8bn in 2017 and we anticipate writing c.£0.8bn of new business in year .Lgim total net flows (£bn) 31.2.  Full Article

Legal & General names Paul Miller as strategy and M&A director
Thursday, 2 Mar 2017 03:47am EST 

Legal & General Group Plc : Legal & General appoints Paul Miller as group strategy and m&a director . This is a new position, reporting to Nigel Wilson, group chief executive . Miller, who will be a member of the group executive committee, will start in June 2017 Further company coverage: [LGEN.L] (Bengaluru Newsroom: +91 806 749 1136).  Full Article

Legal & General group completes sale of Cofunds to Aegon
Tuesday, 3 Jan 2017 02:32am EST 

Legal & General Group Plc : L&G completes sale of cofunds to Aegon .This is third transaction completed with Aegon by Legal & General.  Full Article

Legal & General names E&Y exec Jeff Davies as finance head
Thursday, 22 Dec 2016 02:05am EST 

Legal & General Group Plc : L&G announces appointment of Jeff Davies as CFO . Davies will take up appointment following 2016 preliminary results announcement in Spring 2017 . Mark Gregory, current group CFO, will step down from Legal & General group board when Davies takes up his appointment . Mark Gregory will remain an employee of company until 31 August to assist with an orderly handover .Appointment has been approved by both Prudential Regulation Authority and Financial Conduct Authority.  Full Article

Legal & General says retirement division on track to double new business sales in 2016
Tuesday, 27 Sep 2016 02:08am EDT 

Legal & General Group Plc : Legal & General Group PLC says its retirement division on track to double its new business sales in 2016, with sales now at £5.4 billion (£2.9 billion, FY 2015). .Legal & General retirement sales since June 30 are 1.4 billion pounds, comprising of 1.2 billion pounds for pension de-risking, 130 million pounds of lifetime mortgages, and 90 million pounds of individual annuities..  Full Article

L&G's fund arm says to vote against Sports Direct board
Thursday, 25 Aug 2016 08:20am EDT 

Sports Direct International Plc : Legal & General Investment Management, the fund arm of insurer Legal & General, says to oppose the re-election of Sports Direct Chairman Keith Hellawell for third consecutive year at firm's Sept. 7 annual general meeting. . To oppose re-election of all non-executive directors. . To support shareholder resolution calling for an independent review of labour practices at firm. .LGIM is the number 11 shareholder in Sports Direct with a 1.02 pct stake on Aug. 1, 2016, according to Thomson Reuters Eikon..  Full Article

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