Legal and General ( (LGGNY) ) has released its Q4 earnings. Here is a breakdown of the information Legal and General presented to its investors.
Legal & General Group Plc, a leading financial services company, operates primarily in the insurance, asset management, and retail sectors, with a focus on providing retirement solutions and investment management services. In its latest earnings report for 2024, Legal & General reported a 6% increase in core operating profit, reaching £1,616 million, and announced a £500 million share buyback. The company has made significant strategic progress, including the sale of non-core businesses and forming new partnerships, which have contributed to its strong financial performance. Key financial highlights include a 6% rise in core operating earnings per share, a 232% Solvency II coverage ratio, and a substantial store of future profit valued at £14.8 billion. The company also achieved record volumes in its Retail Annuities and Institutional Retirement segments, while its Asset Management division saw growth in higher fee margin products. Looking ahead, Legal & General remains confident in its ability to achieve ambitious growth targets, supported by a disciplined capital allocation strategy and continued investment in its core businesses.
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