August 7, 2019 / 6:18 AM / 3 months ago

L&G posts 11% rise in H1 operating profit

LONDON, Aug 7 (Reuters) - British insurer Legal & General on Wednesday posted an 11% rise in first-half operating profit driven by a increase in bulk annuity deals and positive flows at its asset management unit.

Britain’s third-largest insurer said operating profit rose to 1 billion pounds ($1.22 billion) from 909 million pounds a year earlier.

L&G, one of the biggest investors in the UK stock market, said its assets under management were up 15% to 1.14 trillion pounds from 985 billion pounds last year.

$1 = 0.8228 pounds Reporting by Lena Masri; editing by Simon Jessop

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