LONDON, Nov 4 (Reuters) - British insurer Legal & General 's net cash generation rose 14 percent to 943 millionpounds ($1.45 billion) in the first nine months of 2015 andassets under management rose 8 percent from a year earlier, itsaid on Wednesday.
Net cash was boosted by greater efficiency and a rise in itsUK protection and savings business, along with the firm's"capital-lite" strategy of reinsuring business to cut capitalcosts, L&G said in a trading statement.
Operational cash generation rose 11 percent to 936 millionpounds.
Assets under management rose to 717 billion pounds andexternal net inflows rose 161 percent from a year earlier to21.7 billion.
"External political and regulatory uncertainties remain, butwe believe that by aligning our strategy to macro trends we havecreated a high degree of resilience in our business model andare well positioned for further growth," Chief Executive NigelWilson said in the statement.
($1 = 0.6485 pounds) (Reporting by Carolyn Cohn, editing by Sinead Cruise)
Legal & General (LGEN)
