Company
LON:LGEN
Legal & General Group PLC is a holding company for a group of risk, savings and investment management businesses. Its risk business is engaged in the provision of financial security for customers and their families, including life assurance, critical illness cover, retirement income, and buildings and contents insurance.
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"Progress on board diversity has been painfully slow, yet, recently, there has been a creeping sense that what has been achieved is ‘enough’ and no more effort is needed"
Four companies have also been axed from its portfolios
Taking out a Lifetime ISA could help to maximise savings, according to Hargreaves Lansdown
The consequences of decades of gender pay gap and unpaid caring work build up into retirement
LGIM is the UK’s largest fund manager with £1.2 trillion of assets
Institutional Investors Group on Climate Change manages US$11 trillion in assets
The pandemic reduced operating profits by £228mln in the year to end-December
As a result, only ten of 297 leaders in the top three roles have ethnic minority backgrounds
Following the review, life and general insurer L&G is now rated as neutral
Chief executive Nigel Wilson said his plan would deliver an “attractive combination of income and growth”
The life insurer told FTSE 100 and S&P 500 companies that they should have at least one black, Asian and minority ethnic (BAME) director by January 2022
Earlier this year, a shareholders group warned that the life insurer should not pay a dividend because of the substantial bond market losses and coronavirus uncertainty it was facing
The life insurer is intending to pay a dividend worth £754mln next month
“Bulls point to growth opportunities, competitive advantages, a strong track record of avoiding defaults and a solvency position that can absorb further shocks"
The life insurer “has managed to marry together two major trends – bulk annuities and low cost tracker investing – into a powerful, mutually reinforcing combination,” said one analyst
Profits surged as the main 'Retirement' division won various bulk annuity deals, including from the likes of Rolls-Royce and National Grid
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Yesterday, the US Federal Reserve made an emergency rate cut in a bid to combat the effects of the wide-spread coronavirus
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Following last week's bloodbath for equities as a result of coronavirus fears, it is currently anybody's guess who could be demoted from the blue-chip index
The profit jump was helped by a bulk annuity deal signed in June between the FTSE 100 insurer and engine maker Rolls-Royce
Investments and investor services
The FTSE 100 index closed 39.84 points lower on the day at 7,646, while the midcap FTSE 250 index plunged almost 112 points to close at 19,774
The transfer of £4.6bn of assets and liabilities relating to the engine maker's pensioners will reduce its post-retirement obligations by around £4.1bn
L&G said it expects the deal will strengthen its balance sheet, adding 2% to its Solvency II capital ratio.
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The FTSE 100 index closed 37.62 points, or 0.5% lower at 7,434.13, albeit above the session low of 7,405.99 as US stocks continued to post big falls on Thursday
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Aside from Barclays numbers, the Day Ahead will also bring updates from the likes of Taylor Wimpey and RELX, plus the final CMA decision on the planned Sainsbury's/Asda merger
"I am delighted to announce our first PRT transaction in Canada, where the market is growing strongly,” said chief executive Nigel Wilson
The US bank's analysts noted that L&G’s management has continued to deliver on growth plans, supported by a growing annuities business and consistent positive net inflows in asset management
“A lower than hoped for Solvency ratio, and a miss on cash generation, hit Legal & General’s share price immediately after results were announced, but we think the underlying trends remain supportive of the long term investment case,” said
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Footsie closed at 7,196 - up 12.57 points, while FTSE 250 finished in the red - down around 83 at 198,359
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While the insurer is scheduled to report its finals, the figures may be overshadowed by the new head of its investment management arm Michelle Scrimgeor
Michelle Scrimgeour will succeed Mark Zinkula, who will step down as head of the £1tn investment management division in August after eight years in the role
The bank said L&G offered “the best combination of quality, risk and reward” among UK life assurers, which it said had become “investment pariahs” in recent months
Nortel'ss spectacular bankruptcy left pensioners, shareholders and employees in the lurch, though apparently not the directors, who collected almost US$200mln in retention bonuses following the collapse
The FTSE 100-consumer goods giant said the proposal had “not received support from a significant group of shareholders” after it outlined the plans in September
The UK blue - chip index finished down 99.8 points at 7,318, while FTSE 250 was also lower
L&G chief executive Nigel Wilson said further transactions are planned in the next few months to remove legacy liabilities
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The UK blue-chip benchmark closed up over 58 points at 7,556, while its mid-cap cousin FTSE 250 added almost 142 points
Investments and investor services
Investors in the B&Q owner will be hoping for a BBQ boost sufficient to offset the springtime freeze.
Back at the end of April, the FTSE 250-listed firm announced the surprise departure of its finance director Andrew Westenberger, who left by mutual agreement on May 16
L&G said it was on track to deliver 10% increase in earnings per share each year until 2020
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The day ahead sees Cineworld and Legal & General report their first-half results
Legal & General, one of the biggest players in the market, already has lifetime mortgage partnerships with Santander and The Co-operative Bank, Reuters said
Investments and investor services
At the close, the UK blue chip index was 4.68 points higher at 7,663.78, just below the session peak of 7,681.86, having recovered from a low of 7,636.60
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Aside from HSBC's numbers, Prudential, L&G, Standard Life Aberdeen, and Hargreaves Lansdown are all on the results docket in the coming week
The Legal & General Investment Management business is expected to achieve operating profit growth of between 8% to 10% per year over the medium term
Investments and investor services
Imports in the period fell 2.1%, while exports increased 2.4%
Takeda on Wednesday increased its offer for Shire up to £46bn or £49 per share.
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The week ahead in includes updates from Lloyds, Barclays, RBS, Shire, GSK, Whitbread, Persimmon and Shell
"I am really looking forward to working closely with Ben to deliver our strategic objectives for the next five years and beyond,” said chief executive Peter Brodnicki.
Investments and investor services
A look at some of the biggest risers and fallers in London on Wednesday
L&G's investment arm has agreed to pay £315mln to buy the 52.1% stake in Cala Homes that it did not previously own
The FTSE 100-listed firm reported full-year operating profit of £2.1bn, above the consensus forecast of £1.9bn, boosted by a mortality release of £332mln
Investments and investor services
Around 3.50pm, the FTSE 100 index was up 13 points at 7,160
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Whenever a CFO serves notice to quit, as Paddy Power's Alex Gersh did this week, shareholders tend to get a bit nervous
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The week ahead sees earnings from Domino's Pizza, Just Eat, Restaurant Group, Legal & General, G4S, Rolls-Royce, Ashtead and Immarsat
The bank's analysts said insurers "look reasonably positioned – cushioned against market weakness by strong balance sheets and on PEs that are well within the long-term trading range”
“Our core business divisions are generating formidable momentum,” said chief executive Nigel Wilson
The group’s portfolio of £33bn mature saving policies has been sold to Swiss Re for £650m
Insurers have been affected by inflation for so-called ‘escape of water’ claims for water damage in homes, while the market remains competitive
L&G was upgraded to 'buy'; the Pru was already rated a 'buy' and has had its target price lifted
Jefferies analysts said: “The outlook for L&G's core business appears strong, with management expressing confidence on 10% earnings growth and 7% dividend trajectory”
The B&Q owner's French business has overshadowed recent decent performances, will it blight the next figures?
Prudential has shed assets from its US business to focus on retirement products
Legal & General is understood to have put money aside for a bid when Prudential’s annuity business is officially put up for sale
At 3.15pm, the UK benchmark index was down 64 points at 7,325, above the session low of 7,296.49 but still set for its worst week in nine months having dropped nearly 250 points in the last three sessions of the week
Legal & General said it is not complacent on the "structural weaknesses" in the UK economy
The FTSE 100 index finished down around 44 at 7,498, above the session low of 7,475.83, but unable to reach the opening peak of 7.542.73
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Given the recent terror attacks, demand for G4S’s security services is likely to have remained strong in the opening six months
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Week ahead: Results from Standard Life PLC, Prudential PLC, Legal & General Group PLC, Paddy Power Betfair PLC, Intercontinental Hotels PLC , G4S PLC, Glencore PLC ...
The UK blue chip index closed down 18.56 points at 7,503
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At the end of January, John Harrington tweaked the famous investment strategy known as the Dogs of the Dow, and applied it to UK stocks. How are the investments doing?
An otherwise storming quarter that saw the Footsie rise 180 points ended on a dull note
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The second reading for growth in the three months to December 2016, delivered last month, was revised up to 0.7% from an initial 0.6% reported in January, but full year GDP for 2016 was revised down to 1.8% from 2.0% on the back of weaker e
L&G upped its stake in the recent £4.1mln fundraising, and now holds a 3.5% stake in ImmuPharma
Aviva and Standard Life is leading the way with dividend payments in the UK insurance sector
The FTSE 100-listed group reported a jump in pre-tax profits to £1.582bn for the 12 months to December 31 2016, up from £1.355bn in 2015
Investments and investor services
FTSE 100 shares ended down on Wednesday with sterling nursing a seven-week low despite a lift for construction stocks following the UK Finance Minister’s Budget pledge of a mini Trump boost to infrastructure
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US President Donald Trump's plans to increase defence spending may lend support to G4S while The Restaurant Group's new chief executive has plenty of work ahead after its struggles
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The Chancellor of the Exchequer may have a lower debt burden to deal with than he was expecting at the time of the Autumn Statement but he is unlikely to splurge
The normally reliable investment strategy based on the "Dogs of the Dow" system has had a bad couple of years; what if we tweaked it?
FTSE 100 shares closed lower on Tuesday in sympathy with declines of up to 160 points on Wall Street’s DJIA as the fallout of US President Donald Trump’s first week in office continued to take its toll
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The normally reliable investment strategy based on the "Dogs of the Dow" system has had a bad couple of years; what if we tweaked it?
In a review of the European Insurers, the broker cut its stance on Standard Life to ‘hold’ from ‘buy’ and reduced its target price on the stock to 370p from 390p.
Current shareholders purchased almost three times more shares than were originally up for grabs in the open offer
FTSE 100 shares ended firmer on Thursday after a late recovery accompanied news from insurer Direct Line
The report covered many points, including that there was a lack of competition and transparency on charges.
Also in the news, Hurricane Energy has started drilling on its latest well in the North Sea, while Premier African hits ‘significant’ lithium grades in Zimbabwe
Investments and investor services
UK stocks ended flat on Wednesday as jitters ahead of the Federal reserve’s rate decision set in
London’s blue-chip ticker ended Wednesday higher for a fifth successive session after financial stocks put weaker energy stocks in their place
With the oil price continuing to slide, heavily-weighted oil giants Shell and BP were dragging the top-share index lower
London shares ended higher on Tuesday after an unexpected helping hand from the government bond market
Investments and investor services
No tears at boohoo.com as it issued an upbeat trading update
Investments and investor services
The US benchmark, the S&P 500, briefly hit a new all-time high yesterday before turning lower; nonetheless, the FTSE 100 is set to continue its journey to its own new high.
Purified cannabinoids biotech company GW Pharmaceuticals reports quarterly numbers.
Investors calm down and leave trading flat at the start of the week, despite an early high
Investors cautious on Monday following a burst of optimism
Among the big names reporting this week include insurance giants Legal & General, Old Mutual, Standard Life and Prudential
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Insurers were in the firing line on Thursday after Barclays released a report giving its assessment of the UK and European insurance market post-Brexit
The business is making solid progress and has strong support from its institutional investors, reveals chief executive Neil Murray.