Top UK life insurer Legal & General Group Plc, which also specialises in asset management and pension risk transfer, enjoyed a profitable first half.
According to Legal & General, its profit after tax amounted to £1.07 billion in the first six months of 2021. In the same period last year, the corresponding figure stood at £290 million.
Operating profit, meanwhile, grew 14% to £1.08 billion. The result was mainly attributed to the double-digit growth or higher posted in Legal & General Capital, Legal & General Insurance, and Legal & General Retail Retirement.
Additionally, earnings per share (EPS) also went up to 17.78p while the interim dividend of 5.18p represents a 5% increase.
“Thanks to the hard work and dedication of my colleagues across Legal & General, we have delivered a strong set of financial results, with EPS up 21% since H1 2019,” stated group chief executive Nigel Wilson. “And we expect to deliver double-digit growth in operating profit at the full year.
“We’re continuing to make investments that are economically, environmentally, and socially valuable, in line with our long-term commitment to delivering inclusive capitalism and supporting the building back better and levelling up agenda.”
