The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLegal & General Share News (LGEN)

Share Price Information for Legal & General (LGEN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 249.10
Bid: 249.90
Ask: 250.00
Change: -4.40 (-1.74%)
Spread: 0.10 (0.04%)
Open: 253.40
High: 253.50
Low: 249.10
Prev. Close: 253.50
LGEN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Legal & General buys £3bn annuity portfolio from Aegon

Mon, 23rd May 2016 07:11

(ShareCast News) - Legal & General said it had acquired a £3bn annuity portfolio from Aegon.L&G said the transaction had been structured initially as a reinsurance contract and covers approximately 27,000 of in-payment policyholders who will remain customers of Aegon during this period. They will continue to be serviced by Aegon until the transfer is approved.Transitional benefits will be available to offset the Solvency II risk margin, L&G said, adding that it had chosen not to reinsure the longevity risk in relation to the deal.On a proforma basis, the 'Day 1' impact of this transaction decreases the Group's Solvency II surplus by around 50m and the Solvency II coverage ratio by about 3 percentage points.Kerrigan Procter, managing director of Legal & General Retirement, said: "We are delighted Aegon has chosen Legal & General to secure its policyholders' annuities. Back book annuity risk transfer deals can be executed efficiently under our post-Solvency II model. Our pricing of this transaction is consistent with achieving our cost of capital hurdle rate. In the UK there is an estimated £100bn of Individual Annuities in back books and we expect further consolidation of these back books."Globally as at 31 March 2016, Legal & General manages an annuity book of £45.5bn, and provides annuity benefits to over a million customers. In full year 2015 Legal & General Retirement (LGR) completed £2.4bn of bulk annuity deals. LGR's operating profit grew 49% in 2015 to £639m and generated £417m net cash, up 22% on 2014.
More News
15 Aug 2023 07:49

LONDON BRIEFING: L&G profit falls on investments; M&S outlook rosy

(Alliance News) - Stocks in London are expected to edge up at Tuesday's open, as investors weigh the latest economic data from the UK and Asia.

Read more
15 Aug 2023 07:37

Legal & General hikes dividend after solid first half

(Sharecast News) - Financial service company Legal & General reported a robust first-half performance on Tuesday, as it made progress toward its five-year ambitions set for 2020-2024.

Read more
8 Aug 2023 15:44

UK earnings, trading statements calendar - next 7 days

Wednesday 9 August 
4imprint Group PLCHalf Year Results
Arix Bioscience PLCHalf Year Results
Bank of Cyprus Holdings PLCHalf Year Results
Bellway PLCTrading Statement
CLS Holdings PLCHalf Year Results
CML Microsystems PLCTrading Statement
Coca-Cola HBC AGHalf Year Results
Flutter Entertainment PLCHalf Year Results
Hargreaves Services PLCFull Year Results
Hill & Smith PLCHalf Year Results
Hiscox LtdHalf Year Results
Impact Healthcare REIT PLCHalf Year Results
MaxCyte IncHalf Year Results
Polymetal International PLCTrading Statement
RM PLCHalf Year Results
Secure Trust Bank PLCHalf Year Results
TP ICAP Group PLCHalf Year Results
Tui AGQ3 Results
Vaalco Energy IncHalf Year Results
Thursday 10 August 
Allianz Technology Trust PLCHalf Year Results
Antofagasta PLCHalf Year Results
Atalaya Mining PLCHalf Year Results
Capital & Regional PLCHalf Year Results
Card Factory PLCTrading Statement
Checkit PLCTrading Statement
Deliveroo PLCHalf Year Results
Derwent London PLCHalf Year Results
Entain PLCHalf Year Results
Global Connectivity PLCHalf Year Results
Hostelworld Group PLCHalf Year Results
Lancashire Holdings LtdHalf Year Results
Ocean Wilsons Holdings LtdHalf Year Results
OSB Group PLCHalf Year Results
Persimmon PLCHalf Year Results
Petrofac LtdHalf Year Results
Redcentric PLCFull Year Results
Riverstone Credit Opportunities Income PLCHalf Year Results
S&U PLCTrading Statement
Savills PLCHalf Year Results
Spirax-Sarco Engineering PLCHalf Year Results
Watches of Switzerland Group PLCTrading Statement
Wheaton Precious Metals CorpHalf Year Results
Zoo Digital Group PLCFull Year Results
Friday 11 August 
FBD Holdings PLCHalf Year Results
Murray International Trust PLCHalf Year Results
Monday 14 August 
CentralNic Group PLCHalf Year Results
Global Invacom Group LtdHalf Year Results
Plus500 LtdHalf Year Results
Stelrad Group PLCHalf Year Results
Tuesday 15 August 
888 Holdings PLCHalf Year Results
Genuit Group PLCHalf Year Results
Georgia Capital PLCHalf Year Results
Kenmare Resources PLCHalf Year Results
Just Group PLCHalf Year Results
Legal & General Group PLCHalf Year Results
MTI Wireless Edge LtdHalf Year Results
UP Global Sourcing Holdings PLCTrading Statement
Victoria PLCFull Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
7 Aug 2023 09:14

LONDON BROKER RATINGS: JPMorgan lifts Rolls-Royce; RBC cuts Unite

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
1 Aug 2023 09:24

LONDON BROKER RATINGS: JPMorgan cuts L&G, St James's price target

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
19 Jul 2023 09:17

LONDON BROKER RATINGS: Exane raises Segro; Goldman likes Aston Martin

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
18 Jul 2023 15:52

UK's L&G agrees 1.8 billion pound pensions buy-in with United Utilities

LONDON, July 18 (Reuters) - Legal & General said on Tuesday it had agreed a 1.8 billion pound pensions buy-in with FTSE 100 company United Utilities, part of a growing trend of businesses offloading pension scheme risk to insurers.

Read more
17 Jul 2023 19:30

Asset managers "backtracked on climate resolutions at oil major AGMs"

(Alliance News) - Some of the UK's largest investors have been accused of backtracking on their support for a climate resolution at oil majors' annual general meetings this year.

Read more
14 Jul 2023 09:13

LONDON BROKER RATINGS: HSBC says 'buy' AstraZeneca but 'reduce' GSK

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
11 Jul 2023 10:08

Britain's 50-billion pound pensions gamble could put savers in fresh peril

LONDON, July 11 (Reuters) - Britain's financial services industry has broadly cheered fresh government proposals to jumpstart the economy by channelling 50 billion pounds ($64.5 billion) of pension fund cash into fledgling firms, but the plans could backfire on savers, experts said.

Read more
10 Jul 2023 18:00

UK pension funds back next phase of post-Brexit City shake up

Private pensions pledge up to 50 billion pounds

*

Read more
10 Jul 2023 13:45

Allergy Therapeutics appoints new CFO; interim CFO to leave in August

(Alliance News) - Allergy Therapeutics PLC on Monday said it has promoted Group Financial Controller Shaun Furlong to chief financial officer.

Read more
9 Jul 2023 13:01

Hunt to outline "evolutionary" pension funds investment reforms for UK

(Alliance News) - UK Chancellor Jeremy Hunt will promise "evolutionary not revolutionary" reforms to get pension funds making billions of pounds of riskier investments in fast-growing firms to boost economic growth.

Read more
5 Jul 2023 12:07

LONDON MARKET MIDDAY: Stocks down; eyes on China slowdown, Fed minutes

(Alliance News) - Stock prices in London were lower at midday on Wednesday amid a solidly risk-off mood following a slew of weak economic data, including from the world's second-largest economy.

Read more
5 Jul 2023 10:22

Legal & General confirms five-year targets

(Sharecast News) - Legal & General Group reiterated its five-year growth targets on Wednesday, as it confirmed that recently introduced accountancy changes would not have any impact.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.