Legal & General Group (LGEN)

Sector:

Insurance

Index:

FTSE 100

254.40p
   
  • Change Today:
    -1.10p
  • 52 Week High: 256.30
  • 52 Week Low: 205.80
  • Currency: UK Pounds
  • Shares Issued: 5,980m
  • Volume: 11,918,156
  • Market Cap: £15,212m
  • RiskGrade: 166

Treasury launches consultation on insurance rules shake up

By Abigail Townsend

Date: Thursday 28 Apr 2022

LONDON (ShareCast) - (Sharecast News) - The UK government has launched a consultation on its plans to radically overhaul the rules governing insurance companies.
HM Treasury is proposing changing the European Union's Solvency II, which governs the prudential regulation of insurance firms in the UK, as part of its post-Brexit reforms.

In particular, it wants a "substantial" reduction in the risk margin for long-term life insurers, thereby releasing capital on insurers' balance sheets, and for firms to have more flexibility to invest in long-term illiquid assets, such as green infrastructure including offshore wind farms.

It is also proposing a "meaningful" reduction in the current reporting and administration requirements, and a more sensitive treatment of credit risk in the matching adjustment. The matching adjustment enables insurers to issue long-term life insurance products by matching them against assets with similar characteristics.

John Glen, economic secretary to the Treasury, said: "Our reforms will unlock tens of billions of pounds of investment in the UK economy, spur innovation in the market while protecting policy holders, and will cement the UK's position as a global hub for financial services."

The consultation, which will run for 12 weeks, is due to close on 21 July. The Prudential Regulation Authority will publish its own technical consultation later in the year, the government confirmed.

As at 1030 BST, blue chip insurer Prudential was trading 2% higher at 1,007.5p, while Aviva was 1% stronger at 432.7p and Legal & General was ahead 2% at 249.9p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Legal and General Market Data

Currency UK Pounds
Share Price 254.40p
Change Today -1.10p
% Change -0.43 %
52 Week High 256.30
52 Week Low 205.80
Volume 11,918,156
Shares Issued 5,980m
Market Cap £15,212m
RiskGrade 166

Legal and General Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.08% above the market average84.08% above the market average84.08% above the market average84.08% above the market average84.08% above the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Price Trend
54.86% above the market average54.86% above the market average54.86% above the market average54.86% above the market average54.86% above the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Income
83.84% above the market average83.84% above the market average83.84% above the market average83.84% above the market average83.84% above the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Growth
97.87% below the market average97.87% below the market average97.87% below the market average97.87% below the market average97.87% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 2
Buy 6
Neutral 6
Sell 1
Strong Sell 0
Total 15
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Legal and General Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 24-Aug-23
Paid 06-Jun-24 26-Sep-23
Amount 14.63p 5.71p

Trades for 28-Mar-2024

Time Volume / Share Price
16:42 40,508 @ 254.40p
16:35 6,182,605 @ 254.40p
16:35 25,557 @ 254.40p
16:35 1,888 @ 254.40p
16:35 12,115 @ 254.40p

Legal and General Key Personnel

Chair John Kingman
CFO Jeff Davies

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