Legal & General operating profit rises 8%

Tue, 09th Aug 2022 07:54

(Sharecast News) - UK insurer Legal & General lifted interim operating profits on Tuesday, driven by higher interest rates and a strong annuity portfolio performance.

Operating profit rose 8% to Â£1.16bn. L&G's investment business saw third-party inflows jump to Â£65.6bn from Â£27.4bn a year earlier. Assets under management fell 3% to Â£1.3bn.

The company reported capital generation of Â£4.1bn said it expected to achieve the range of Â£8bn - Â£9bn by 2024.

L&G lifted its interim dividend by 5% to 5.44 pence a share.

Reporting by Frank Prenesti at Sharecast.com

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