Third quarter and nine-month results released by Legal&General today have helped the company put a f...
Third quarter and nine-month results released by Legal&General today have helped the company put a few more pennies on its share price and help sustain the 15% market value recovery over the past two-weeks.
According to the figures, L&G's total new business sales increased 21% to £708m from £585m during the same period last year.
The company calculates this increase as the "APE", Annual Premium Equivalent, which is total new annual premiums plus 10% of single premiums.
However, the figures covering the third quarter ended September show that things are not all smooth sailing.
Total UK APE in the quarter fell to £187m from £191m last year, as all life and pensions sales fell 22% to £643m from £823m.
And the share of all UK sales made through IFAs fell to 48% from 54%, although the value of such sales remained steady at £82m on an APE basis.
L&G shares hit 99.5p early this afternoon.
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