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Funds News

Legal & General posts 2% drop in H1 operating profit

LONDON, Aug 5 (Reuters) - British life insurer Legal & General posted a 2% drop in first-half operating profit, it said on Wednesday, hurt by the impact of the coronavirus pandemic.

Operating profit from continuing divisions fell to 1.13 billion pounds ($1.48 billion) from 1.15 billion pounds a year earlier.

Net release from operations - or net cash generation - dropped 14% to 730 million pounds.

Legal & General, unlike some other insurers, paid a final dividend for 2019.

It said it would pay an interim dividend for 2020 of 4.93 pence per share, the same as a a year ago.

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