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.
Think tank report
Taking the time to look
After 14-month FAS programme
More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, research from Legal & General (L&G) has found.
Rebranded from OMW