Edition:
United Kingdom

Legal & General Group PLC (LGEN.L)

LGEN.L on London Stock Exchange

266.80GBp
25 Jun 2019
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Latest Key Developments (Source: Significant Developments)

Rolls-Royce's UK Pension Trustee Transfers Some Pension Liabilities To Legal & General
Thursday, 6 Jun 2019 

June 6 (Reuters) - Rolls-Royce Holdings Plc ::ROLLS-ROYCE HOLDINGS - TRANSFER OF PENSION LIABILITIES TO LEGAL & GENERAL.COMPLETED A DEAL TO TRANSFER CERTAIN PENSION RISK LIABILITIES TO LEGAL & GENERAL ASSURANCE SOCIETY LIMITED.DEAL COVERS TRANSFER OF ASSETS AND LIABILITIES RELATING TO APPROXIMATELY 33,000 PENSIONERS.DEAL WILL SEE ROLLS-ROYCE MAKE AN EXCEPTIONAL CASH CONTRIBUTION OF AROUND £30M.FREE CASH FLOW GUIDANCE FOR FULL YEAR REMAINS UNCHANGED.TRANSACTION TO FULLY INSURE BENEFITS PAYABLE FROM FUND AND PROVIDE PERMANENT SECURITY FOR PENSIONERS.DEAL WILL FULLY INSURE BENEFITS PAYABLE FROM FUND.TRANSACTION TO REDUCE GROUP'S POST-RETIREMENT OBLIGATIONS BY AROUND £4.1 BILLION..DEAL WILL PROVIDE PERMANENT SECURITY FOR PENSIONERS, WHILE REDUCING GROUP'S POST-RETIREMENT OBLIGATIONS BY AROUND £4.1 BILLION.ROLLS-ROYCE TRUSTEE WILL TRANSFER AROUND £4.6BN OF ASSETS.ROLLS-ROYCE TRUSTEE'S TRANSFER OF ASSETS RESULTS IN REDUCTION IN NET ASSETS OF AROUND £0.5BN THOUGH FUNDING LEVELS REMAIN UNCHANGED.RESIDUAL OBLIGATIONS, WHICH REMAIN WELL FUNDED, WILL BE SMALLER WITH LESS RISK FOR TRUSTEE AND ROLLS-ROYCE TO MANAGE IN FUTURE.  Full Article

Allianz UK To Acquire Legal & General Insurance Ltd
Friday, 31 May 2019 

May 31 (Reuters) - Allianz SE ::ALLIANZ STRENGTHENS ITS PRESENCE IN THE UK.ALLIANZ UK TO ACQUIRE 100 PERCENT OF LEGAL & GENERAL INSURANCE LIMITED, THE GENERAL INSURANCE BUSINESS OF LEGAL & GENERAL GROUP PLC FOR 242 MILLION POUNDS.ALLIANZ UK TO BUY OUT THE REMAINING 51 PERCENT STAKE IN LV GENERAL INSURANCE GROUP (LV GIG) FOR UP TO 578 MILLION POUNDS FROM LIVERPOOL VICTORIA FRIENDLY SOCIETY (LVFS).  Full Article

Allianz In Advanced Talks To Buy L&G's General Insurance Business - Sky News
Monday, 29 Apr 2019 

April 29 (Reuters) - :ALLIANZ IS IN ADVANCED TALKS TO BUY L&G'S GENERAL INSURANCE BUSINESS - SKY NEWS.  Full Article

Direct Line plots 400 million STG bid for Legal & General unit - Sky News
Wednesday, 19 Dec 2018 

Dec 19 (Reuters) - :DIRECT LINE PLOTS 400 MILLION STG BID FOR LEGAL & GENERAL UNIT - SKY NEWS.  Full Article

Legal & General Says Co Redesigns And Acquires New Manchester Tower
Monday, 20 Aug 2018 

Aug 20 (Reuters) - Legal & General Group PLC ::LEGAL & GENERAL GROUP SAYS REDESIGNS AND ACQUIRES NEW MANCHESTER TOWER FOR GROWING BUILD TO RENT PORTFOLIO.  Full Article

Legal & General 2017 operating profit rises 32 pct to 2.1 bln stg​
Wednesday, 7 Mar 2018 

March 7 (Reuters) - Legal & General Group Plc ::L&G FULL YEAR RESULTS 2017 PART 1.‍EPS 1 31.9P, RETURN ON EQUITY 25.6%​.‍OPERATING PROFIT UP 32% TO £2,055M (2016: £1,562M)​.‍PROFIT BEFORE TAX 3 UP 32% TO £2,090M (2016: £1,582M)​.‍FULL YEAR DIVIDEND UP 7% TO 15.35P PER SHARE (2016: 14.35P)​.‍PROFIT AFTER TAX UP 50% TO £1,902M (2016: £1,265M)​.‍OPERATING PROFIT FROM CONTINUING OPERATIONS 5 EXCLUDING MORTALITY RELEASE UP 12% TO £1,616M (2016: £1,447M)​.‍NET RELEASE FROM CONTINUING OPERATIONS 5 UP 9% TO £1,352M (2016: £1,242M)​.‍SOLVENCY II COVERAGE RATIO 7 OF 189% (2016: 171%)​.‍PRT 8 AND INDIVIDUAL ANNUITY NEW BUSINESS OF £4.6BN (2016: £4.1BN)​.‍LIFETIME MORTGAGE ADVANCES OF £1.0BN (2016: £0.6BN)​.‍LGIM EXTERNAL NET FLOWS UP 49% AT £43.5BN (2016: £29.2BN)​.‍LGIM AUM UP 10% AT £983.3BN (2016: £894.2BN)​.‍EXCLUDING MORTALITY RESERVE RELEASES, GROWTH IN OPERATING PROFIT WAS 13%​.  Full Article

Legal & General Group In Advanced Talks To Buy Remainder Of Housebuilder Cala- Sky News‍​
Tuesday, 6 Mar 2018 

March 6 (Reuters) - :LEGAL & GENERAL GROUP IN ADVANCED TALKS TO BUY REMAINDER OF HOUSEBUILDER CALA- SKY NEWS‍​.  Full Article

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

EXCLUSIVE-Investors with $34 trillion demand urgent climate change action

LONDON, June 26 Investors managing more than $34 trillion in assets, nearly half the world's invested capital, are demanding urgent action from governments on climate change, piling pressure on leaders of the world's 20 biggest economies meeting this week.