Protection and Annuities
Legal & General’s Protection and Annuities businesses focus on the provision of risk-based products, operating across a number of markets. These include life insurance and critical illness cover, individual and bulk purchase annuities, group risk, income protection and household insurance.
Market Position
Legal & General is the UK’s 2007 Life Insurer of the Year, having won this award for the eighth time in ten years. Our position as a major provider of life, protection and annuity products, is supported by our value for money products, broad distribution and excellent customer service.
Wealth Management
Legal & General’s Wealth Management business is focused on increasing customers’ wealth through medium and long term savings products. We distribute a wide range of individual and corporate pensions as well as investment bonds, unit trusts and ISAs through a variety of channels.
Market Position
We are a leading provider of wealth products to the IFA sector, partner to UK banks and building societies and a significant provider of investment products direct to customers. We continue to enhance our ‘Open Architecture’ products through our partnership with Cofunds, a leading investment platform provider in the UK.
With-Profits
Legal & General’s with-profits fund, with more than £30bn of assets, has the financial strength to take advantage of a wide range of investment opportunities. We have a management team dedicated to our with-profits business. Our with-profits fund includes pensions and unit linked savings products which offer a with-profits option.
Market Position
Whilst a number of insurers have closed their with-profits funds, we remain committed to attracting new customers into our with-profits fund. 2006 saw the fourth successive year of double-digit investment returns on the assets backing our with-profits policies, and the financial strength of the business has increased in 2007.
Investment Management
Legal & General Investment Management (LGIM) is one of the largest asset managers in the UK, providing institutional investors with straightforward, value for money investment solutions. Our product range includes index funds as well as actively managed equity, fixed income, and commercial property funds.
Market Position
LGIM is the leading provider of asset management services to UK corporate pension schemes, managing assets for over 2,800 companies including 57 of the top 100 UK listed companies. Our scale is such that we hold 4.0% of UK plc.
New business up 51%
International
Legal & General’s principal international businesses operate in the United States, France and the Netherlands. They are active in selected lines of business in individual and group protection and savings.
Market Position
More than 90% of Legal & General’s business is in the UK. Our international operations form a complementary portfolio of profitable, specialist businesses.
operating profit
EEV operating profits up 6%