LONDON, March 4 (Reuters) - British life insurer Legal & General posted a 12% rise in 2019 operating profit to 2.1 billion pounds ($2.69 billion) on Wednesday, boosted by record company pension deals.
L&G has increasingly focused on bulk annuities - insuring company final salary, or defined benefit, pension schemes.
Bulk annuity sales including several jumbo deals at Britain’s third-largest insurer reached 11.4 billion pounds, up 25% from a year earlier. ($1 = 0.7806 pounds) (Reporting by Carolyn Cohn, editing by Huw Jones)
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.