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Legal & General hails 'good' performance across all divisions; plans to raise funds through debt iss

By BFN News | 10:00 AM | Tuesday 19 November, 2019

Legal & General said its year-to-date operating performance across all its divisions was good and the insurer also revealed plans to raise funds through a debt issuance. The amount of debt raised would be confirmed after the issuance had settled, the company said. In the year to 31 October 2019, LGRI, its institutional retirement business, had transacted £8.5bn of global pension risk transfer, while LGRR, its retail retirement business, grew annuity sales 34% to £829m on-year. Lifetime mortgage advances, meanwhile rose 15% to £823m. LGIM, its investment management business, achieved external net flows of £83bn in the year to 31 October, which includes a further £23bn of external net flows since the first half of the year. LGIM's AUM as at 31 October was £1.2tn, up about £200bn since 2018. The insurer estimated its year-end solvency ratio would be in a range of 171% to 176% from 171% reported in the first half of 2019. At 10:00am: (LON:LGEN) Legal General Group PLC share price was +0.95p at 281.65p Story provided by

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