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United Kingdom

Legal & General Group PLC (LGEN.L)

LGEN.L on London Stock Exchange

268.20GBp
15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Legal & General says on track for a record year in 2017
Thursday, 7 Dec 2017 

Dec 7 (Reuters) - LEGAL & GENERAL GROUP PLC ::CONTINUES TO SEE GREAT MOMENTUM IN ALL ITS BUSINESSES IN YEAR TO DATE AND HAS EXPERIENCED PARTICULARLY STRONG GROWTH IN RECENT WEEKS.LEGAL & GENERAL RETIREMENT (LGR) HAS DELIVERED TOTAL SALES FOR 2017 TO DATE 1 OF £6.2BN.ANNUITY SALES GENERATED £4.5BN OF ANNUITY PREMIUM.FY UK INDIVIDUAL ANNUITY PREMIUMS UP 93%, EQUIVALENT TO A 14% MARKET SHARE.BY END OF OCTOBER, INTERNATIONAL NET INFLOWS WERE £26.1BN.GENERAL INSURANCE (GI) GROSS WRITTEN PREMIUMS ARE UP 13% TO £305M BY END OF OCTOBER.  Full Article

Legal & General Group to sell mature savings business to Swiss Re
Wednesday, 6 Dec 2017 

Dec 6 (Reuters) - Legal & General Group Plc ::LEGAL & GENERAL GRP - L&G HAS REACHED AGREEMENT TO SELL ITS MATURE SAVINGS BUSINESS TO REASSURE DIVISION OF SWISS RE LTD ("SWISS RE") FOR 650 MILLION POUNDS​.SAYS ‍BUSINESS BEING SOLD COMPRISES PRINCIPALLY RETAIL CUSTOMERS WHO HOLD TRADITIONAL INSURANCE BASED PENSIONS, SAVINGS AND INVESTMENT PRODUCTS​.EXPECTS FORMAL TRANSFER OF BUSINESS WILL BE COMPLETED IN MID-2019​.  Full Article

Legal & General Group buys retirement home for 51mln stg​
Tuesday, 14 Nov 2017 

Nov 14 (Reuters) - Legal & General Group Plc :‍Legal & General announces acquisition of a later living business called renaissance villages (rv) for a net purchase price of around 51 million pounds​.  Full Article

L&G names new residential development manager
Monday, 23 Oct 2017 

Oct 23 (Reuters) - LEGAL & GENERAL GROUP PLC ::‍APPOINTED JAMES ROBSON AS RESIDENTIAL DEVELOPMENT MANAGER, GROWING ITS DEDICATED BUILD TO RENT TEAM TO EIGHT.APPOINTMENT TO SUPPORT GROUP'S AMBITIONS TO HAVE 6,000 UNITS IN PLANNING, DEVELOPMENT OR OPERATION BY END OF 2019​.  Full Article

Chesnara gets valid acceptances for 267 pct of shares offered to raise funds for L&G deal
Tuesday, 13 Dec 2016 

Chesnara Plc : Received valid acceptances in respect of 12,465,882 open offer shares from qualifying shareholders . This represents approximately 267 per cent of open offer shares . Placing and open offer to raise gross proceeds of approximately £70 million .Results of placing and open offer.  Full Article

Legal & General says retirement division on track to double new business sales in 2016
Tuesday, 27 Sep 2016 

Legal & General Group Plc : Legal & General Group PLC says its retirement division on track to double its new business sales in 2016, with sales now at £5.4 billion (£2.9 billion, FY 2015). .Legal & General retirement sales since June 30 are 1.4 billion pounds, comprising of 1.2 billion pounds for pension de-risking, 130 million pounds of lifetime mortgages, and 90 million pounds of individual annuities..  Full Article

L&G's fund arm says to vote against Sports Direct board
Thursday, 25 Aug 2016 

Sports Direct International Plc : Legal & General Investment Management, the fund arm of insurer Legal & General, says to oppose the re-election of Sports Direct Chairman Keith Hellawell for third consecutive year at firm's Sept. 7 annual general meeting. . To oppose re-election of all non-executive directors. . To support shareholder resolution calling for an independent review of labour practices at firm. .LGIM is the number 11 shareholder in Sports Direct with a 1.02 pct stake on Aug. 1, 2016, according to Thomson Reuters Eikon..  Full Article

L&G says Cofunds sale to boost Solvency II surplus by 125 mln stg
Thursday, 11 Aug 2016 

Legal & General Group Plc : Legal & General to sell Cofunds and IPS to Aegon. .Says sale of Cofunds will increase Solvency II surplus by 125 million pounds, and its economic capital surplus by 105 million pounds..  Full Article

BRIEF-Aegon acquires Cofunds from Legal & General for 140 mln stg
Thursday, 11 Aug 2016 

Aegon NV : Announces acquisition of Cofunds from Legal & General for GBP 140 million (164 million euros) . Transaction is expected to close by end of 2016, subject to customary regulatory approval, and integration of business is expected to be completed by 2018 . Expects to generate GBP 60 million of annualized cost synergies by moving Cofunds business onto state-of--art aegon technology . These cost savings are expected to lead to an estimated solvency II capital benefit of GBP 150 million before end of 2017, which significantly limits net investment for acquisition of Cofunds . Acquisition of Cofunds will contribute to achieving group's return on equity target .Aegon's UK subsidiaries expect to resume dividend payments to holding in 2017 in line with earlier guidance.  Full Article

Legal & General CFO says starting to see net inflows into UK property fund
Tuesday, 9 Aug 2016 

Legal & General Group Plc : Legal & general cfo mark gregory says starting to see net inflows into uk property fund Further company coverage: [LGEN.L] ((carolyn.cohn@thomsonreuters.com;)).  Full Article

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Breakingviews - South African gold giant throws Lonmin a lifeline

LONDON (Reuters Breakingviews) - A South African giant has come to Lonmin’s rescue. Gold miner Sibanye-Stillwater has offered to buy the troubled platinum specialist for shares worth 246 mln pounds. The offer is far from generous when compared with available cost savings. But Lonmin’s financial woes and inability to raise equity make a share of a larger group look attractive.