Legal & General (L&G) saw its profits after tax drop to £290m in the first half of the year as a result of lower interest rates on its insurance business and the “unrealised impact of market movements”.
This was down from £874m in the first half of 2019, its H1 results said. However, the provider said overall the business had shown resilience in the face of the pandemic and had a robust balance sheet. Operating profit from continuing divisions stood at £1.1bn with three of its five businesses delivering growth. Overall operating profit was £946m compared to just over £1bn in 2019 which the business said demonstrated resilience as specific Covid-19 estimated impacts totalled a loss of £129m It confirmed an interim dividend of 4.93p per share (H1 2019: 4.93p), "providing flexibil...
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