Insurance giant Legal & General (L&G) has reported increased operating profit of £1.09bn in 2012, beating analysts' forecasts thanks to double digit sales growth.
The firm's preliminary results for 2012 showed profit after tax was up to £810m, having stood at £721m in 2011. It said full-year dividends were up 20% to 7.65p a share. Legal & General Investment Management (LGIM) said inflows stood at £7.1bn, a significant increase on £3bn in 2011. Assets under administration at LGIM were up 9% to £406bn. Individual annuity sales were also up by a quarter to £132m. Savings and protection sales were also higher than 2011. Nigel Wilson, group chief executive, said: "An uncertain, sluggish economy has had minimal impact. "The more important growt...
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