L&G shares jump after report cites CEO saying not considering sale

Thu, 14th May 2026 09:00

LONDON, May ⁠14 (Reuters) - Legal and General shares rose almost 5% on Thursday, on track for their ‌biggest one-day jump since December 2024, after the Financial ⁠Times report quoted the chief executive ⁠as saying the company was not considering a sale.

L&G CEO Antonio Simoes told the FT he was not considering a break-up ‌or sale of the company.

Shares in L&G were last up 4.7%, compared with a 1.1% rise in the FTSE 350 index of insurer stocks. They are still down 0.7% for ‌the year.

L&G in March posted a 6% rise in annual core ‌profit and launched a 1.2-billion-pound ($1.6 billion) share buyback, but missed analyst expectations for some other key earnings metrics.

It reported a core operating profit of 1.62 billion pounds, slightly ‌below analyst expectations, while its Solvency II cover ratio - a key metric of financial strength - was ⁠210%, ⁠down from 232%; that also missed ‌forecasts.

Last month, Simoes told Reuters that the asset manager is aiming to double its assets under management ‌in Asia to around $500 billion as the company seeks to grow its international business.