L&G expects £10m reduction in DB revenue and profits

Losses caused by the gilt market turmoil triggered by September’s Mini Budget

Martin Richmond
clock • 1 min read
L&G expects £10m reduction in DB revenue and profits

Legal & General (L&G) has reported it expects a £10m loss in its defined benefit (DB) flow-related revenue and profits in 2022 as a result of the market volatility caused by September’s Mini Budget.

In a trading statement posted today (18 November), the firm revealed despite experiencing positive flows in liability-driven investments (LDI) across the year, the loss of revenue is a result of th...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Tender Watch: PMI appoints data insight partner

Tender Watch: PMI appoints data insight partner

Mortality Monitor webinars will help with member information, modelling, mortality rates and de-risking

Professional Pensions
clock 11 November 2024 • 1 min read
Partner Insight: £ Billion+ transactions - driving innovation across the risk settlement market

Partner Insight: £ Billion+ transactions - driving innovation across the risk settlement market

Mike Edwards, Partner, Aon
clock 06 November 2024 • 5 min read
Mixed industry views on DB run-on, SPP finds

Mixed industry views on DB run-on, SPP finds

SPP and APL survey of pension professionals finds minority think run-on is viable long-term strategy

Jasmine Urquhart
clock 23 October 2024 • 1 min read
Trustpilot