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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Legal & General Plc    LGEN   GB0005603997

LEGAL & GENERAL PLC

(LGEN)
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Legal & General : Fitch Ratings upgrades Legal & General Reinsurance's Insurer Financial Strength to ‘AA-'

10/08/2020 | 04:30am EST

8 Oct 2020

Legal & General Reinsurance (L&G Re) announces today that Fitch Ratings has upgraded its Insurer Financial Strength from 'A+' to 'AA-'.

AA ratings suggest a very low expectation of ceased or interrupted payments, and they indicate very strong capacity to meet policyholder and contractual obligations. This capacity is not especially vulnerable to foreseeable events.

Following substantial growth of L&G Re's internal and external reinsurance business volumes, and its value to L&G in capital management terms, L&G Re's strategic importance has also been upgraded from 'Very Important' to 'Core'.

Fitch ranks Legal & General's business profile as favourable compared with other life insurance companies in the UK. The rating also confirms the Group's strong business profile, financial performance, investment and asset risk strategy and earnings from products in the overseas markets.

For further information, please contact:

Disclaimer

Legal & General Group plc published this content on 08 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 October 2020 08:29:03 UTC


© Publicnow 2020
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Sales 2020 8 207 M 10 966 M 10 966 M
Net income 2020 1 459 M 1 950 M 1 950 M
Net Debt 2020 4 027 M 5 381 M 5 381 M
P/E ratio 2020 10,5x
Yield 2020 6,50%
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EV / Sales 2020 2,46x
EV / Sales 2021 0,55x
Nbr of Employees 8 542
Free-Float 97,2%
Chart LEGAL & GENERAL PLC
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Technical analysis trends LEGAL & GENERAL PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 263,59 GBX
Last Close Price 2,72 GBX
Spread / Highest target 12 074%
Spread / Average Target 9 594%
Spread / Lowest Target 5 968%
EPS Revisions
Managers
NameTitle
Nigel David Wilson Group Chief Executive Officer & Executive Director
John Kingman Chairman
Jeff Davies Group Chief Financial Officer & Executive Director
Julia Susan Wilson Senior Independent Non-Executive Director
Lesley Mary Samuel Knox Independent Non-Executive Director
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