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.
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.