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Legal & General Group PLC (LGEN.L)

LGEN.L on London Stock Exchange

276.20GBp
19 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Legal & General says on track for a record year in 2017
Thursday, 7 Dec 2017 02:28am EST 

Dec 7 (Reuters) - LEGAL & GENERAL GROUP PLC ::CONTINUES TO SEE GREAT MOMENTUM IN ALL ITS BUSINESSES IN YEAR TO DATE AND HAS EXPERIENCED PARTICULARLY STRONG GROWTH IN RECENT WEEKS.LEGAL & GENERAL RETIREMENT (LGR) HAS DELIVERED TOTAL SALES FOR 2017 TO DATE 1 OF £6.2BN.ANNUITY SALES GENERATED £4.5BN OF ANNUITY PREMIUM.FY UK INDIVIDUAL ANNUITY PREMIUMS UP 93%, EQUIVALENT TO A 14% MARKET SHARE.BY END OF OCTOBER, INTERNATIONAL NET INFLOWS WERE £26.1BN.GENERAL INSURANCE (GI) GROSS WRITTEN PREMIUMS ARE UP 13% TO £305M BY END OF OCTOBER.  Full Article

Legal & General Group to sell mature savings business to Swiss Re
Wednesday, 6 Dec 2017 02:10am EST 

Dec 6 (Reuters) - Legal & General Group Plc ::LEGAL & GENERAL GRP - L&G HAS REACHED AGREEMENT TO SELL ITS MATURE SAVINGS BUSINESS TO REASSURE DIVISION OF SWISS RE LTD ("SWISS RE") FOR 650 MILLION POUNDS​.SAYS ‍BUSINESS BEING SOLD COMPRISES PRINCIPALLY RETAIL CUSTOMERS WHO HOLD TRADITIONAL INSURANCE BASED PENSIONS, SAVINGS AND INVESTMENT PRODUCTS​.EXPECTS FORMAL TRANSFER OF BUSINESS WILL BE COMPLETED IN MID-2019​.  Full Article

Legal & General Group buys retirement home for 51mln stg​
Tuesday, 14 Nov 2017 02:14am EST 

Nov 14 (Reuters) - Legal & General Group Plc :‍Legal & General announces acquisition of a later living business called renaissance villages (rv) for a net purchase price of around 51 million pounds​.  Full Article

L&G names new residential development manager
Monday, 23 Oct 2017 07:57am EDT 

Oct 23 (Reuters) - LEGAL & GENERAL GROUP PLC ::‍APPOINTED JAMES ROBSON AS RESIDENTIAL DEVELOPMENT MANAGER, GROWING ITS DEDICATED BUILD TO RENT TEAM TO EIGHT.APPOINTMENT TO SUPPORT GROUP'S AMBITIONS TO HAVE 6,000 UNITS IN PLANNING, DEVELOPMENT OR OPERATION BY END OF 2019​.  Full Article

Legal & General provides 120 million stg in debt for HS1 rail purchase
Wednesday, 27 Sep 2017 06:03am EDT 

Sept 27 (Reuters) - Legal & General :Says provides 120 million pounds ($160.73 million) in debt in support of equitix, hicl hicl., infrared consortium's purchase of high speed 1 rail link.  Full Article

Legal & General H1 operating profit up 27 pct to 988 mln stg
Wednesday, 9 Aug 2017 02:00am EDT 

Aug 9 (Reuters) - Legal & General Group Plc :H1 pretax profit rose 41 percent to 1.2 billion stg.Operating profit up 27% to £988m (h1 2016: £777m).Profit after tax up 43% to £952m (h1 2016: £667m).Earnings per share up 41% to 15.94p (h1 2016: 11.27p).Profit before tax 1 up 41% to £1.2bn.Interim dividend 3 of 4.30p per share (h1 2016: 4.00p).Net release from operations for retained business 4 up 6% to £724m (h1 2016: £681m).Return on equity 5 of 26.7% (h1 2016: 20.6%).Solvency ii surplus 6 increased by £1.0bn to £6.7bn (fy 2016: £5.7bn).Solvency ii coverage ratio 6 of 186% (fy 2016: 171%.New annuity business of £1.6bn (h1 2016: £0.7bn).Lgim aum up 13% at £951.1bn (h1 2016: £841.5bn).Lgim external net inflows of £21.7bn (h1 2016: £9.6bn).Group-Wide direct investment up 48% at £11.8bn (h1 2016: £8.0bn).Lgi gross premiums up 6% to £1,338m (h1 2016: £1,260m).We are replicating our successful uk model with measured expansion in us.Not being complacent as we recognise that there are currently some structural weaknesses in uk economy.Pension risk transfer new annuity business of £1.6bn (h1 2016: £0.7bn).Currently quoting on c.£12bn of buy-in and buy-out deals in uk.Expect to see continued positive growth in individual annuity sales in h2 2017.We have a 30% market share in lifetime mortgages with market volumes expected to grow to £3.0bn in 2017.We will review appropriateness of our longevity improvement assumptions at year end.In us we completed three bulk deals in h1 2017 totalling $141m premiums.  Full Article

Insurer L&G forays into Britain's retirement housing market
Friday, 4 Aug 2017 03:19am EDT 

Aug 4 (Reuters) - LEGAL & GENERAL GROUP PLC ::ANNOUNCES ESTABLISHMENT OF INSPIRED VILLAGES GROUP, WHICH IS FORMED OUT OF ENGLISH CARE VILLAGES.ANNOUNCES ACQUISITION OF THE ASSETS OF TWO JV BETWEEN ENGLISH CARE VILLAGES AND PLACES FOR PEOPLE FOR AROUND 40 MLN STG‍​.WITH LEGAL & GENERAL'S LONG TERM FINANCIAL BACKING, INSPIRED VILLAGES WILL ACQUIRE SEVERAL SITES PER YEAR‍​.  Full Article

S&P revises outlook on Legal & General subsidiaries to negative from stable
Monday, 10 Jul 2017 06:37am EDT 

July 10 (Reuters) - Legal & General Group Plc :On July 7 revised the outlook on Legal & General subsidiaries to negative from stable.On july 7 revised outlook on Legal & General Group Plc, to negative from stable.On jly 7 affirmed 'A' long term and 'A-1' short-term counterparty credit ratings on co.  Full Article

Legal & General completes 24.5 mln stg bi-lateral loan
Tuesday, 27 Jun 2017 06:12am EDT 

June 27 (Reuters) - Legal & General Group Plc :Announces that it has completed a 24.5 mln stg bi-lateral loan to refinance three offices and a leisure centre owned by Citygrove.Arranged over a seven year term, the loan is secured against three office buildings.Loan replaces existing bank finance from Close Brothers Property Finance.Arranged by Legal & General’s private credit business, part of lgim real assets, the drawdown of the loan is immediate.  Full Article

Legal & General end-2016 solvency ratio 163 pct on new reporting structure
Friday, 19 May 2017 02:25am EDT 

May 19 (Reuters) - Legal & General Group Plc :l&g updates on its solvency ii position.Legal & general updates on its solvency ii position: surplus increased to £7.0bn, coverage ratio increased to 188%.In group sfcr, we disclose our regulatory solvency ii surplus as £5.4bn with a coverage ratio of 163% for year ended 31 december 2016.Year-End 2016 solvency ii surplus of £5.7bn and coverage ratio of 171% on a shareholder basis.  Full Article

BRIEF-Legal & General Buys Riverside Retail Park For 36.8 Mln Stg

* LEGAL & GENERAL- HAS EXCHANGED CONTRACTS TO ACQUIRE RIVERSIDE RETAIL PARK IN STAFFORD FROM LBX RETAIL PROPERTIES FOR A TOTAL CONSIDERATION OF £36.8M