H1 2019: Operating profit up 11% to £1 billion, record H1 global annuity sales of £7 billion and LGIM net flows of £60 billion
7 Aug 2019
1. The Alternative Performance Measures within the Group’s financial highlights are defined in the glossary, page 93.
2. A formulaic approach is used to set the interim dividend, being 30% of the prior year full year dividend.
3. Profit after tax attributable to equity holders.
4. Solvency II coverage ratio on a shareholder basis is adjusted for the Own Funds and SCR of the With-profits fund and the Group final salary pension schemes.
Nigel Wilson, Group Chief Executive: "Legal & General’s five businesses collectively delivered another strong set of results in H1 2019, with EPS rising 13% to 14.74p, operating profit up 11% to £1bn and a RoE of 20%. We have a depth of management, track record and opportunities that mean all five of our businesses should contribute to future growth. The opportunity in global Pension Risk Transfer, retail retirement solutions, and DC is immense and expected to continue..."