Legal & General Backs 2022 Operating Profit; Capital Generation Despite Volatility

By Michael Susin

Legal & General Group PLC said Tuesday that it continues to benefit from positive momentum in the second half, despite the increased market volatility, and backed its guidance for the full-year operating profit and capital generation.

The FTSE 100-listed insurance company said that it expects to deliver 2022 operating profit growth in line with the 8% growth delivered in the first half, while capital generation is forecast to come in at 1.8 billion pounds ($2.04 billion).

The company estimates its solvency coverage ratio as at 30 Sept. to be in the range of 235% and 240%, up from the 212% reported in the first half, it added.

The company added that it forecasts interest rate increases to continue to have a positive impact on its earnings per share and on the solvency coverage ratio.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

October 04, 2022 02:36 ET (06:36 GMT)

Legal and General (PK) (USOTC:LGGNY)
過去株価チャート
から 5 2024 まで 6 2024