* H1 operating profit up 10 pct to 571 mln pounds
* EPS up 13 pct to 7.82 pence
* Interim dividend up 22 pct to 2.4 pence/share
By Chris Vellacott
LONDON, Aug 6 (Reuters) - British insurer Legal & General is seeking acquisitions in the United States, extendinga growth strategy that has resulted in three deals in Britain sofar this year.
Speaking to journalists after the group's first-halfearnings beat forecasts on Tuesday, Chief Executive Nigel Wilsonsaid U.S. expansion plans will focus on boosting its fundmanagement and retirement businesses.
"The U.S. is a very important market for us and therefore wewill be investing capital there," Wilson said.
L&G has pursued a strategy of small, bolt-on acquisitionssince the start of 2013, the most recent of which was the 151million pounds ($231.47 million) purchase of annuity firm Lucidawith 1.4 billion pounds of assets on its books.
Earlier in the year L&G bought out investment fundssupermarket Cofunds and a 46.5 percent stake in housebuilderCala Group.
Expansion in Europe and the Middle East was largely behind a100 percent increase in the net flow of new money into L&G'sfast-growing investment management division (LGIM) to 8 billionpounds in the first half of the year.
International assets under management were up by more than afifth to 52 billion pounds at the division which also operatesin the United States. Assets under management there account forabout 5 percent of the total.
LGIM contributed almost one quarter to group operatingprofit of 571 million pounds after debt and expenses.
L&G's net cash generation rose 23 percent to 500 millionpounds, beating analysts' expectations for 470 million pounds.
Wilson said the firm's strategy is evolving "from a post-financial crisis focus on cash, to one based on cash plus growthplus selective acquisitions."
Investors cheered the results, which included a better thanexpected 22 percent increase in the half-year dividend to 2.4pence per share. L&G shares were trading 3.2 percent higher by0856 GMT.
Legal & General (LGEN)
