LONDON (Reuters) – British life insurer Legal & General posted a 12% rise in 2019 operating profit to 2.1 billion pounds on Wednesday, boosted by record company pension deals.

L&G has increasingly focussed on bulk annuities – insuring company final salary, or defined benefit, pension schemes.

Bulk annuity sales including several jumbo deals at Britain’s third-largest insurer reached 11.4 billion pounds, up 25% from a year earlier.

 

 

 

 

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