Investing & Annuities
1 The Alternative Performance Measures within the Group’s financial highlights are defined in the glossary, on pages 99 to 104 of this report.
2 Represents operating profit from divisions and excludes mortality reserve releases (H1 2018: £nil, H1 2017: £126m). H1 2017 release reflects changes to LGR’s base mortality assumptions.
3 Excluding mortality reserve releases (H1 2018: £nil, H1 2017: £126m).
4 A formulaic approach is used to set the interim dividend, being 30% of the prior year full year dividend.
5 Solvency II coverage ratio on a shareholder basis is adjusted for the Own Funds and SCR of the With-profits fund and the final salary pension schemes.
6 Constant FX rate comparisons have been calculated by applying the average FX rates for H1 2017 to both H1 2017 and H1 2018 local currency results. Actual FX rate comparisons apply the H1 17 and H1 18 average FX rates to the equivalent periods’ results respectively.
Nigel Wilson, Group Chief Executive:
"Legal & General again delivered consistent, positive results with five of our six businesses increasing their operating profits for the first half of 2018. Operating profit from divisions increased 7% to £1.1 billion and RoE was 20.3%... We are confident that Legal & General is strongly positioned for growth in H2 and beyond."