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Legal & General Says Well Positioned to Exploit Opportunities Print E-mail

London - 16 October 2008

Insurer Legal & General said it remains cautious about the economic outlook for the UK, but is confident that it is well positioned to exploit opportunities throughout the current economic cycle.

The group said its UK Risk and Savings businesses generated combined APE new business of £1,047m, an increase of 5% on the same period of 2007. Worldwide APE new business stood at £1,137m, also up 5%. Its institutional investment management business delivered a further £28.3bn of gross new funds.

“These are uncertain times for everyone. We welcome recent actions by the Government to underpin confidence in the UK banking sector and hence the wider economy,” said the group.

“It is in these challenging markets that businesses with solid foundations can mark themselves out in their ability to continue to deliver for customers and shareholders over the long term,” it added.

 
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