The insurer outlines plans for £1.2B in buybacks and 2% dividend growth as part of a broader £5B return strategy.
Legal & General Group announced plans to return over £5 billion to shareholders between 2025 and 2027, including a £1.2 billion share buyback and a 2% annual dividend increase. The commitment follows a 6% rise in core operating profit to £1.6 billion in 2025 and strategic asset disposals totaling £1.5 billion.
The company has streamlined operations by selling its U.S. protection business for £1.8 billion to Meiji Yasuda while retaining a U.S. pension risk transfer partnership. Its U.K. pension risk transfer business reached £11.8 billion, and asset management assets under management hit £1.2 trillion.
Leadership changes were also highlighted at the AGM, with Chair Sir John Kingman stepping down after overseeing the strategy shift. The company emphasized its focus on core businesses and simplification efforts.