LONDON (dpa-AFX) - Legal & General Group Plc (LGEN.L) said it has had a good start to 2022. The Group's operating performance is in line with its expectations. Legal & General Group expects to deliver double-digit growth in cash and capital generation at first half.
The Group estimates solvency coverage ratio as at 30 June 2022 is circa 215%, up at least 25 percentage points from fiscal 2021, principally reflecting the contribution from higher interest rates and strong ongoing operational surplus generation.
Sir Nigel Wilson, Chief Executive, Legal & General, said: 'Our year-to-date operating performance is in line with expectations, with cash and capital generation running slightly ahead of our five-year ambition and ROE at circa 20%. The Group's overall exposure to inflation is minimal and our balance sheet is strong: the recent increase in solvency provides further security and optionality.'
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