Legal & General Group H2 Earnings Call Highlights

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MarketBeat

Wed, March 11, 2026 astatine 6:50 AM CDT 7 min read

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Legal & General delivered a "strong 2025" with core operating EPS up 9%, halfway operating nett of £1.6bn, a pro forma Solvency II sum ratio of 210% aft selling its U.S. extortion concern to Meiji Yasuda for $2.3bn, and announced a 21.79p dividend positive a £1.2bn stock buyback (its largest ever).
CEO António Simões is executing a portfolio simplification strategy — including £1.5bn of disposals via the Corporate Investments Unit and the U.S. extortion merchantability tied to a strategical concern and a 5% Meiji Yasuda involvement — and absorption says CIU-related negatives should beryllium “zero going forward.”
Business momentum is led by Institutional Retirement (annuity portfolio £75bn; ~£12bn PRT written successful 2025, c. 25% UK marketplace share), portion Asset Management is astatine an “inflection point” with £402m nett successful 2025 and a people of £500–600m by 2028; the radical besides acceptable a medium-term Solvency II sum scope of 160%–190% and noted pro forma indebtedness leverage of 33% that should diminution implicit time.
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Legal & General Group (LON:LGEN) utilized its full-year 2025 results presumption to stress continued net growth, a strengthened superior presumption pursuing the merchantability of its U.S. extortion business, and a stepped-up superior instrumentality programme that includes its largest-ever stock buyback.

Chief enforcement António Simões said the radical delivered “a beardown 2025” with core operating EPS up 9%, astatine the apical extremity of its guided 6% to 9% range. Solvency II operational surplus procreation (OSG) roseate 5% to £1.5 billion, portion OSG per stock accrued 8%. The radical reported a Solvency II sum ratio of 210% connected a pro forma ground aft completing the merchantability of its U.S. extortion concern to Meiji Yasuda for $2.3 billion.

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Legal & General accrued its dividend per stock by 2% to 21.79p and announced a £1.2 cardinal stock buyback. Simões described the buyback arsenic the largest successful the company’s history, pursuing a £500 cardinal buyback successful 2025 and a £200 cardinal buyback successful 2024.

Simões framed the update arsenic the culmination of a strategy launched erstwhile helium became CEO successful 2024, focused connected “disposing of non-core assets, establishing rigorous superior discipline, and putting successful spot a refreshed enactment team.”

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He highlighted respective actions:

Completion of the sale of the U.S. extortion business to Meiji Yasuda, alongside a increasing strategical concern successful which Meiji Yasuda is gathering a 5% shareholding successful the group.
Since establishing the Corporate Investments Unit (CIU) successful the 2nd fractional of 2024, completion of £1.5 cardinal of plus disposals.