March 4, 2020 / 7:15 AM / a month ago

Legal & General 2019 operating profit up 12% on record company pension deals

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below