Legal & General confident in long-term goals despite 2020 profit dip March 10, 2021 Legal & General today reported a drop in full year profits but the firm said it remained on course to meet its five-year ambitions. The London-based asset manager said operating profit fell three per cent to £2.2bn, while pre-tax profit was down 12 per cent to £1.6bn. The company said the drop reflected the impact [...]
Legal & General shares fall after insurer scales back dividend plans due to Covid-19 November 12, 2020 Shares in Legal & General fell today after the insurance giant kept its final dividend payment for 2020 flat due the impact of the coronavirus pandemic and cut its five-year dividend growth target. In an update to the stock exchange this morning, Legal & General said it had delivered a “resilient” performance so far this [...]
Fidelity acquires LGIM’s personal investing business October 23, 2020 Fidelity has acquired Legal and General Investment Management’s personal investing business for an undisclosed sum. The business will now form part of Fidelity’s own personal investing platform and will more than double its current 280,000 customers on the platform, which has £20.3bn in assets under management. LGIM’s UK personal investing business has £5.8bn in assets [...]
Insurance: Hiscox, Aviva, RSA and Direct Line suspend dividends following Bank of England pressure April 8, 2020 Insurance companies Hiscox, RSA, Aviva and Direct Line have this morning announced the suspension of their dividends after regulatory pressure from the Bank of England. Sam Woods, deputy governor of the Bank’s Prudential Regulatory Authority wrote to chief executives of major insurers on 31 March asking them to “pay close attention to the need to [...]
Investment giant Legal & General to vote against combined chair and chief executive roles February 3, 2020 Legal & General’s investment arm will vote against combined chief executive and board chairman roles globally, taking on business giants including Facebook’s Mark Zuckerberg and Blackrock’s Larry Fink. Legal & General Investment Management (LGIM), one of the largest investment companies in the world with over £1 trillion under management, announced the change as part of [...]
Legal & General boosts profit and revenue in first half of 2019 August 7, 2019 Legal & General boosted profit and revenue in the first half of 2019, as it said the UK represents an “enormous opportunity” for its growing pensions market. The figures The insurer saw profit before tax rise 12 per cent year on year to hit £1bn in the six months to June. Earnings per share grew in [...]
Losses build at L&G’s modular homes business August 4, 2019 Legal & General (L&G) suffered a loss of more than £20m in its modular home building division last year. The latest accounts for L&G Homes Modular show the business reported an operating loss of £20.6m last year. However, the loss was less than the £46.15m reported in 2017. Read more: Construction begins on Europe’s tallest [...]
Rolls-Royce offloads one-third of its pension scheme to Legal & General in landmark £4.6bn deal June 6, 2019 Rolls-Royce has handed over responsibility for £4.6bn of its pension scheme to Legal & General, in a record-breaking deal. The FTSE 100 engine manufacturer has offloaded responsibility for paying the pensions of its 33,000 pensions scheme members. The scheme has a total of 76,000 members. Read more: Rolls-Royce among firms kicked off government’s late payment [...]
What is powering ISA millionaire portfolios? April 3, 2019 | City Talk By Jemma Jackson from interactive investor. For our ISA millionaires, investment trusts and a little luck are key to a seven-figure portfolio. Whilst there is always a huge focus on the most popular ISA season funds, data from interactive investor suggests that when it comes to the largest portfolios, it is investment trusts that are [...]
Legal and General calls for an end to quarterly financial report June 7, 2015 The UK’S biggest asset manager has written to the UK’s biggest 350 listed companies, urging them to ditch quarterly financial reports. Reporting which focuses on short-term performance is not necessary to building a sustainable business as it may steer management to focus more on short-term goals and away from future business drivers, Legal and General [...]