L&G report: Inflation is widening gap between rich and poor with ‘pay cut’ for 95 per cent of UK households cost of living crisis Legal & General’s Rebuilding Britain Index (RBI) found that 95 per cent of working UK households have experienced a real terms pay cut over the last 12-months as rising inflation makes its way felt into nearly all households. UK inflation has surpassed forecasts and stayed in the double digits and the rate of price increases [...]
Legal & General raises dividend as higher interest rates help it profit from pensions buyout boom Pensions boom Legal & General (L&) has hiked its dividend after outstripping market expectations by boosting its profits by 12 per cent. Higher profits in L&G’s pensions and life insurance segments offset lower incomes from its asset management business, LGIM, after it suffered from the impacts of market volatility. L&G upped its dividend by five per cent, [...]
Legal & General CEO would like to see UK ‘move more quickly’ on Solvency II reforms Solvency II Insurance giant Legal & General would like to see the UK “move more quickly” in reforming the EU rules that govern Britain’s insurance sector, the head of the FTSE 100 firm’s pensions buyout segment told City A.M. Andrew Kail, chief executive of L&G’s institutional retirement business, called for “clarity” on the UK’s plans to reshape [...]
Sir Nigel Wilson: City grandee to step away after decade of success at Legal and General January 30, 2023 Respected City grandee Sir Nigel Wilson will step away from the top job at Legal & General after more than a decade at the helm. The insurer and pensions provider announced Wilson’s planned retirement to markets this morning. Wilson will stay with L&G until a successor is found, with the firm expecting that process to [...]
Legal & General to vote against NewMed’s takeover bid for Capricorn Energy January 15, 2023 A fight over the future of Capricorn Energy is set to come to a head this week on the announcement that one of its top investors is set to vote against the oil and gas firm’s board in a push to veto NewMed Energy’s £3bn takeover deal. Legal & General Investment Management (LGIM) is set [...]
Top investors call on government to boost female climate fight as Cop27 begins November 7, 2022 A group of top investors including Aviva and Legal & General Investment Management have called on governments to ramp up climate action today by enshrining the role of women within the fight against climate change.
London’s FTSE 100 pulled down by pension managers after more BoE bond support October 11, 2022 London’s FTSE 100 today was pulled down by the UK’s largest money managers dropping after the Bank of England stepped up its support for the bond market again. The capital’s premier index dropped 1.06 per cent to 6,885.23 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Legal & General notches ‘double digit’ cash and capital growth in 2022 July 7, 2022 Mortgage and pension provider Legal & General said today it has seen “double digit” growth in cash and capital generation for the first half of the year, after a strong performance across its divisions.
Legal & General sells all properties under Bishopsgate Property Fund to £500m tune May 9, 2022 Legal & General’s asset management arm has sold all properties held by Bishopsgate Property Fund for just under half a billion pounds. Legal & General Investment Management Real Assets (LGIM Real Assets) revealed it had sold all sites for £474m, on behalf of the joint venture partnership with PGGM and Legal & General Capital (LGC). [...]
Legal & General snaps up Spitalfields offices, with management fund portfolio now worth £3.8bn February 7, 2022 Legal & General’s investment portfolio has swelled to £3.8bn, with five fresh acquisitions across the office, leisure and industrial sectors. The new deals total £150m and cover around 600,000sq ft, including the purchase of 20,821 sq ft of offices at 45 Folgate Street in Spitalfields for £26.8m Through its management fund, L&G has also purchased [...]