L&G profits rise 34%; Dividend up 20%

This has allowed the insurer to raise its half year dividend by 20% to 1.33p per share. Worldwide, the group said new business was up 18% to £881m APE2, while L&G Investment Management saw sales soar 50% to £21.2bn, compared to £14.2bn for the same period in 2009. The transformation of L&G's savings business, including its retirement suite, continued in the first half of 2010 as IFRS operating profits of £54m trebled compared to 2009. "Our focus continues to be on cost management, shifting product mix towards capital light products, reducing commissions and growing assets under adm...