Legal & General IM records £38bn 2017 inflow

Cornelia Mascio
Dicembre 7, 2017

The level of inflows have helped drive its parent company towards an expected "record year" in terms of earnings and profits.

LGIM said inflows were well-diversified across its product line and geography, singling out liability driven investments, active fixed and property funds as strong performers.

By the end of October, worldwide net inflows were £26.1 billion, with £11.3 billion from the United States and a further £10.9 billion from Europe.

LGIM also noted its entry into the European ETF market with the acquisition of ETF Securities' platform Canvas on 15 November, which it said would provide access to the fastest-growing part of the asset management industry.

L&G agreed on 6 December to sell its mature savings business to Swiss Re for £650m.

United Kingdom retail annuity sales have soared 93pc in the year to date to £0.6bn, handing the company a 14pc market share.

Legal & General Retirement (LGR) reported sales of £6.2bn for 2017 as at 6 December with the U.S. institutional pension risk transfer business doubling to $1.6bn compared with 2016. Our core business divisions are generating formidable momentum.

Wilson added that the group's market share, balance sheet and management capabilities put it in an ideal position to benefit from "global growth opportunities". Life insurance and protection gross written premiums rose 6% to £2.1bn at the end of October and general insurance gross written premiums were up 13% to £305m.

At 0910 GMT, shares in L&G were up 0.53 percent at 263.1 pence, compared with a 0.23 percent rise in the FTSE 100 index.

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