Legal & General Group Plc L&G completes disposal of Legal & General France (6896K)
04 Januar 2016 - 10:00AM
UK Regulatory
TIDMLGEN
RNS Number : 6896K
Legal & General Group Plc
04 January 2016
LEGAL & GENERAL COMPLETES the SALE TO APICIL
Prévoyance OF LEGAL & GENERAL FRANCE
As previously announced on the 30 July 2015, Legal & General
Group plc ("Legal & General") has today announced the
completion of the sale of Legal & General Holdings (France)
S.A. to APICIL Prévoyance on 31(st) December 2015.
Legal & General continues to dispose of non-core businesses,
and focus on core activities where we believe we can achieve
significant scale and deliver attractive returns on capital. We
disposed of Legal & General Ireland and Egypt in 2015.
L&G France is headquartered in Paris, with 19 agency
branches situated across France. It was established in 1934, and
Olivier Potellet has been President and CEO since 2010. It is a
specialist player in unit-linked savings and group risk, with an
established presence in the affluent savings market and the group
health and protection market for SMEs. It has a client base of
circa 37,000 individual savings customers, circa 4,000 group risk
SME customers, and it wrote premiums in 2014 of EUR371.8m in
savings and EUR214.9m in group risk.
- ENDS -
For further information, please contact:
Investors:
Laura Doyle Head of Investor Relations 020 3124 2088
Stephen Thomas Investor Relations Manager 020 3124 2047
Media:
John Godfrey Corporate Affairs Director 020 3124 2090
Richard King Head of Group Corporate Communications 020 3124
2095
Notes to editors:
Legal & General Group Plc
Established in 1836, Legal & General is a leading provider
of insurance, savings and investment management products in the UK.
The Group has a market capitalisation of GBP16.0bn (as at 30
December 2015) and is responsible for investing GBP728bn worldwide
(as at 30(th) September 2015) on behalf of investors, policyholders
and shareholders. We have over seven million customers in the UK
for life assurance, pensions, investments and general insurance
plans and over one million customers in the US who rely on us for
life assurance. In 2014, Legal & General's operating profit (on
the IFRS basis) was GBP1,275m and earnings per share were 16.70p
for the period, an increase of 10% for both respectively.
For more information on Legal & General, please see
http://www.legalandgeneralgroup.com/
APICIL Group
The APICIL Group is the fifth largest Health & Protection
mutual and paritarian insurer in France, leader in the Rhône-Alpes
region with EUR2,804 million in premiums in 2014 (Pension and
health, death and disability insurance). The Group has combined
assets under management of EUR6.8 billion. The 1,300 APICIL
employees bring their skills to nearly 1.5 million active and
retired people who benefit from the services of the Group which was
established in 1938 in Lyon.
Forward-looking statements
This announcement may contain certain forward-looking statements
relating to Legal & General, its plans and its current goals
and expectations relating to future financial condition,
performance and results. By their nature, forward-looking
statements involve uncertainty because they relate to future events
and circumstances which are beyond Legal & General's control,
including, among others, UK domestic and global economic and
business conditions, market related risks such as fluctuations in
interest rates and exchange rates, the policies and actions of
regulatory and Governmental authorities, the impact of competition,
the timing impact of these events and other uncertainties of future
acquisition or combinations within relevant industries. As a
result, Legal & General's actual future condition, performance
and results may differ materially from the plans, goals and
expectations set out in these forward-looking statements and
persons reading this announcement should not place reliance on
forward-looking statements. These forward-looking statements are
made only as at the date on which such statements are made and
Legal & General Group Plc does not undertake to update
forward-looking statements contained in this announcement or any
other forward-looking statement it may make.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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