View more on these topics

L&G profits up 6 per cent

Legal & General has revealed a 6 per cent rise in operating profits for the first half of the year, from £589m to £626m on an EEV basis.

The provider reported sales of unit linked bonds fell steeply in the first half of the year, from £136m to £75m, mainly due to the changes to Capital Gains Tax that came into force in April and investment volatility.

But L&G saw a steep rise in annuity sales, up 100 per cent from £89m to £178m. It also saw a large increase in Sipp sales, up 96 per cent from £25m to £49m, driven by new product launches and the inclusion of Suffolk Life sales.

Sales of UK core retail investments were up 34 per cent from £86m in the first half of 2007 to £115 in 2008, while protection sales were down slightly from £111m to £110m.

L&G group chief executive Tim Breedon says: “L&G has delivered a strong set of results in market and economic conditions that have, as we expected, been challenging.

“These results demonstrate our continued strengths – strong finances, multi-channel distribution, a diverse product range across complementary businesses, a strong brand and operational flexibility.”


Qrops confusion mars the market

International adviser Abbey Expatriate Services has warned that Qrops are a misselling scandal waiting to happen due to a lack of Government information and the poor quality of offshore brokers.

Persimmon and Halifax help FTBs

Persimmon Homes and Halifax have set out a joint initiative to double first-time buyers’ savings for a deposit on a new Persimmon home. Savers must make regular deposits up to a total of £5,000 into a Halifax or Bank of Scotland savings account for a minimum of six months.

Why prevention is better than cure

Quoting the famous adage, prevention is better than cure; there are many proactive benefits that can improve wellness in the workplace, decrease stress, increase staff morale and reduce absenteeism, as well as attracting and retaining employees of a higher standard. With a recent study showing that employees in Britain are working below peak productivity, preventative benefits can ensure you address potential health issues or causes of stress at their source and ensure productivity in the workplace remains at an optimum level. With this in mind, how are you using preventative benefits to help keep your workforce happy and healthy?


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm