Legal & General’s first-half operating profit exceeds analyst estimates

Published 06/08/2025, 08:04
© Reuters.

Investing.com -- Legal & General (LON:LGEN) reported stronger-than-expected first-half results on Wednesday, as the British insurer pushes ahead with a strategic overhaul under new CEO António Simões aimed at improving returns and streamlining operations.

The company posted a 6% rise in core operating profit to £859 million, beating the £816 million average analyst forecast compiled by L&G.

Total (EPA:TTEF) operating profit, which includes non-core units, slipped 2% to £905 million but still came in ahead of expectations.

Profit before tax under IFRS rose 28% year-on-year to £406 million.

L&G declared an interim dividend of 6.12 pence per share, in line with projections, and said it remains on course to meet its three-year financial goals.

Its Solvency II ratio, a key measure of capital strength, stood at 217%, down from 223% a year earlier.

“Our customer base has grown to 12.4 million, and workplace pension assets have surpassed £100 billion,” said Simões. “We are growing and making the most of the synergies between our three businesses.”

The CEO also pointed to progress on the group’s strategic revamp, including the sale of its U.S. protection business and a new partnership with Meiji Yasuda. “We are delivering on our promise to return more to shareholders with over £5 billion in dividends and share buybacks over three years,” he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.