L&G’s H1 core operating profit rose 7% on the same period a year earlier to £918m, its latest financial results have revealed, with profits in the asset management segment rising 10% to £222m.
Institutional retirement and the retail business both saw a 5% jump, to £646m and £248m, respectively. The firm wrote or was exclusive on £5.7bn of global PRT year to date.
L&G said it now expects FY26 core operating EPS to be above the top end of its 6% to 9% target range.
The Solvency II coverage ratio was 201%, down from 217% and remaining well above L&G’s target range of 160% to 190%.
"Our scale and the connections between our businesses remain a clear competitive advantage, which we are building further through improvements in operating efficiency. We are on track to meet or exceed our strategic targets," CEO, Antonio Simoes, said.
