Legal & General (L&G) has reported increased pension assets of £429m in the third quarter as a result of auto-enrolment.
The group also said record quarter individual annuity sales were up 10% to £350m. Its interim results said L&G Investment Management (LGIM) and its savings division were both experiencing "strong customer demand for retirement solutions". LGIM had net inflows up 28% to £4.6bn. Its liability driven investment solutions and active fixed income products brought in £3.3bn, with the majority coming from international clients. Assets under management were £391bn, up 5% from 2011. L&G said the retail savings market "remained challenging" and it reduced volumes of structured products due...
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