Legal & General Says Has Had Good Start to 2022, in Line With Views
07 Juli 2022 - 9:02AM
Dow Jones News
By Sabela Ojea
Legal & General Group PLC said Thursday that it has had a
good start to 2022, and that its performance is in line with
expectations.
The FTSE 100-listed insurance company also said that its
solvency is strong, and that it expects to post double-digit growth
in cash for the first half, with capital generation running
slightly ahead of its five-year plan.
The company expects to achieve 1.8 billion pounds ($2.15
billion) of capital generation in 2022, it said.
Regarding its solvency coverage ratio, Legal & General said
that as of June 30 the ratio was around 215%, up at least 25
percentage points from 2021 thanks to higher interest rates and a
strong operational surplus generation.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
July 07, 2022 02:47 ET (06:47 GMT)
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