L&G

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.

Around 12,000 pensioners who hold annuities with Legal & General have been left without their regular payouts after a technical blunder.

Leading fixed income managers have been adding exposure to peripheral eurozone bonds as value dries up in the investment grade corporate space.

L&G Investments' managing director of investments Simon Ellis has left the firm.

The Treasury will launch a consultation tomorrow on the limits imposed on the amount of annual income drawdown investors can take, an expert claims.

L&G has unveiled its plans for adviser charging post-RDR, which include facilitated adviser charging and the removal of commission.

Legal & General has said it is preparing to launch its RDR proposition on 19 November as it announces interim results for the first nine months of the year.

Former Legal & General chief executive Tim Breedon is set to join the board of Barclays as a non-executive director.

Fixed income managers have expressed concerns a new bubble may be forming in higher-rated corporate bonds as investors pile into the asset class.

Mark Zinkula, the chief executive of Legal & General Investment Management (LGIM), has become group executive director of Legal & General (L&G).