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LGIM profits sink a fifth as pensions prop up Legal & General results
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According to its full year 2023 results, operating profits for the investment arm dropped to £274m, down from £340m the previous year, while Legal & General Retirement Institutional, focused on defined benefit pensions across the UK, US, Canada and the Netherlands, enjoyed a 10% rise in profits, up to £886m from £807m. LGIM proposes open-ended property fund restructure to hybrid model L&G Retail and L&G Capital, focused on workplace savings and alternative assets, respectively, remained largely flat year-on-year. The group pointed to the «ongoing impact of higher interest rates» to...
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