Legal & General sells Suffolk Life for £45m
15th Jan 2016 07:22
(ShareCast News) - Legal & General has sold self-invested personal pension provider and administrator Suffolk Like to Curtis Bank for £45m. The deal is subject to an underwritten placing by Curtis Banks and regulatory approval, both of which are expected in the first half of the year. Suffolk Life
Read moreDeutsche Bank reviews UK life assurers; notes uncertain outlook
11th Jan 2016 12:07
(ShareCast News) - Deutsche Bank adjusted its ratings on London-listed life assurers as it took a look at the UK sector, saying the outlook was uncertain on a number of fronts. The bank said most UK life assurers continue to offer the potential for structural long-term growth with attractive dividen
Read moreLegal & General completes £230m bulk annuity deal
23rd Dec 2015 09:14
(ShareCast News) - Legal & General said it has completed the UK's largest medically-underwritten bulk annuity deal with an unnamed UK defined benefit pension scheme. The insurer and investment manager said the deal is a buy-in, for around £230m in pension liabilities, covering specific scheme member
Read moreLegal & General to cease quarterly reporting
11th Dec 2015 08:13
(ShareCast News) - Legal & General has announced it will cease quarterly reporting in 2016. It follows regulatory changes that removed requirements for Interim Management Statements, a position it advocated for earlier this year. In a letter to all the FTSE 350 boards in June, the company said it b
Read moreBroker tips: UK life insurers, Entertainment One, Micro Focus International
10th Dec 2015 15:38
(ShareCast News) - Shares in UK life insurers will catch-up with their European peers next year after underperforming in 2014, as Solvency II proved to be a more acute headwind for them, Nomura told clients on Thursday. Yet developments for them had generally been better than expected for them, so c
Read moreUK life insurers set to catch up next year, Nomura says
10th Dec 2015 15:06
(ShareCast News) - Shares in UK life insurers will catch-up with their European peers next year after underperforming in 2014, as Solvency II proved to be a more acute headwind for them, Nomura told clients on Thursday. Yet developments for them had generally been better than expected for them, so c
Read moreRSA, Prudential, Legal & General get green light on Solvency II rules
7th Dec 2015 07:12
(ShareCast News) - Three major UK insurers said they had received approval to use their internal models to comply with the new European-wide Solvency II requirements to protect against financial shocks. RSA, Prudential and Legal & General are among 19 companies to get full or partial approval for th
Read moreBank of England gives insurance firms go-ahead on Solvency II plans
6th Dec 2015 09:13
(ShareCast News) - The Bank of England has approved the internal capital calculation models of 19 insurance firms, including Lloyd's of London, Aviva, RSA and Prudential. The endorsement means that the firms can use an internal model to determine the amount of capital they need to set aside to prote
Read moreLegal & General chairman John Stewart to retire in 2016
13th Nov 2015 08:07
(ShareCast News) - Legal & General's chairman John Stewart will retire in 2016 following the identification and appointment of a successor, after five years in the role. Stewart said he expects the company's annual general meeting in May 2016 to be his last as chairman. Group chief executive Nigel
Read moreThursday newspaper share tips: Investing in Legal and General a good insurance policy
5th Nov 2015 11:13
(ShareCast News) - Betting on Legal and General may be a good long-term strategy, according to The Times's Tempus. The insurer posted a 14% rise in net cash generation for the first nine months of the year on Wednesday as it said it is ahead of its target to deliver £80m of operating cost savings th
Read moreLegal & General lifts net cash 14% and plans cost savings
4th Nov 2015 07:13
(ShareCast News) - Insurer Legal & General posted a 14% rise in net cash generation for the first nine months of the year as it said it is ahead of its target to deliver £80m of operating cost savings this year. Net cash generation rose to £943m from £827m in the same period last year, while assets
Read moreAviva, St.James's and Standard Life set to outperform, JP Morgan says
23rd Oct 2015 14:54
(ShareCast News) - The upcoming implementation of the Solvency II capital regime will lift a significant source of uncertainty which has been hanging over UK and European life insurers, JP Morgan said in a research note sent to clients. The new measures will likely see Aviva, St.James Place and Stan
Read moreLondon pre-open: Shares to edge higher ahead of US jobs report
2nd Oct 2015 07:58
(ShareCast News) - Stocks are expected to start the day slightly higher ahead of today´s release of the US jobs report for September. The top flight index is seen starting the session up to 22 points higher from Thursday´s close of 6,072.47, while the Shanghai Stock Exchange´s Composite Index remain
Read moreLegal & General in pension transfer deal with Philips US unit
2nd Oct 2015 07:18
(ShareCast News) - Legal & General America (L&G) is to provide retirement payments under a group annuity contract to 14,000 Royal Philips US retirees and other former employees in its first American pension risk transfer deal, the company said on Friday. Legal & General America (L&G) is to provide r
Read moreLegal & General gets a boost from upbeat BofA Merrill note
23rd Sep 2015 14:22
(ShareCast News) - Legal & General got a boost on Wednesday as Bank of America Merrill Lynch added the stock to its 'Europe 1' list, which is a list of department-wide top picks. "We believe that its steadily growing, highly visible cash generation deserves a premium valuation," said the bank. It s
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