Operational cash: up 17% TO £736M (Q3 YTD 2010: £628M)
Net cash: up 15% TO £631M (Q3 YTD 2010: £549M)
lgim ASSETS: £347bn (q3 YTD 2010: £342bn)
WORLDWIDE SALES: £1,338M (Q3 YTD 2010: £1,347M)
£1.1BN BULK ANNUITIES DEAL COMPLETED DURING Q4
Tim Breedon, Group Chief Executive, said:
"This was another successful quarter from Legal & General, demonstrating that even in difficult markets our product mix, diversified distribution and operational strength enables us to deliver strong sales, expand our distribution, and beat our cash targets.
"Sales are up in Protection, Savings and International, and our Annuities business has just announced the market's largest BPA deal at £1.1bn which will be reported in next quarter's numbers. LGIM attracted £25bn in gross new funds, and its product mix, with growth in Liability Driven Investment and Internationally-sourced funds, continues to strengthen and to diversify - we are reaping the benefits of rising individual and corporate prudence in the UK as the move from indebtedness to saving continues.
"Our strong cash generation means we can fund new business growth whilst increasing our balance sheet strength and at the same time supporting a growing dividend. We are therefore confident we can continue to grow from a position of strength, capitalising on new opportunities despite volatile markets and challenging economic conditions."
