L&G with-profits bonuses rise 12%

A spokeswoman for Legal & General says the provider partly shifted from equities and property in the last year to fixed assets. The provider switched more than £3bn between asset classes in 2007, including about £1.5bn from equities “at what proved to be almost at the top of the market”. Meanwhile, with-profits bonds sales for the group rose 25% in a volatile market, from just over £80m in 2006, to £102m last year. Mark Gregory, with-profits managing director at Legal & General, says: “The increase we have seen in sales this year emphasizes the attractions of a strong with-profits provi...