London, March 9, 2026, 22:37 GMT
Legal & General Group Plc slipped 1.8% Monday, trading around 249.9 pence. Investors, eyeing the insurer’s full-year numbers due March 11, aren’t zeroed in on earnings this time—the real attention is on capital returns and the speed of payout. Share Prices
L&G finished offloading its U.S. insurance business to Meiji Yasuda on Feb. 2, saying the deal unlocked £1.2 billion in Solvency II capital and pointing to an extra £1 billion earmarked for shareholders—boosting its planned 2026 buyback up to £1.2 billion. Chief Executive António Simões called the move one that “supports enhanced returns for shareholders.” Legal & General Group
The latest consensus, refreshed by the company on March 5, puts 2025 core operating profit at £1.649 billion. Core operating earnings per share are forecast at 21.17 pence, with an expected dividend of 21.79 pence. Solvency II coverage ratio? 219%. That’s the industry’s key capital metric—just as crucial as profit this year. Legal & General Group
Matt Britzman, senior equity analyst at Hargreaves Lansdown, pointed out that investors are zeroed in on how quickly excess capital gets returned, eyeing a potential £1.2 billion payout alongside the results. Early efforts to simplify the group “could help underpin confidence,” he added. Sharecast
On March 5, Aarin Chiekrie, equity analyst at Hargreaves Lansdown, called L&G’s balance sheet “in great shape.” That, he said, sets the company up for buybacks to jump from about £500 million in 2025 toward nearly £1.2 billion in 2026, thanks to the U.S. disposal. Pension risk transfers—where insurers take on final-salary liabilities—remained central to the story, he added. Hargreaves Lansdown
L&G came in with a fresh set of numbers for its 2024 full year: core operating profit at £1.616 billion, up 6% from the previous year, and core operating EPS climbing 6% to 20.23 pence. The group also flagged a £500 million buyback lined up for 2025, and said it’s planning to return over £5 billion to shareholders across three years via dividends and buybacks. Legal & General Group
Pension dealmaking isn’t letting up. The UK’s bulk annuity market saw £45 billion in transactions so far in 2024, and consultancy LCP is calling for another £40 billion to £50 billion next year. L&G is in the thick of it, up against Aviva and Phoenix; Aviva just reported a 25% rise in annual profit and revived its £350 million buyback. Reuters
Still, there’s a catch. Hargreaves Lansdown cautioned that the headline £1.2 billion isn’t set in stone, with investor sentiment hanging on management’s ability to back up its talk on simplification. If the company opts for a reduced buyback or barely tweaks its strategy, shares could be left hanging. Hargreaves Lansdown
L&G will release its 2025 full-year results and accompanying slides at 0700 GMT on Wednesday. The management team is scheduled to present and take questions starting at 0930 GMT. Legal & General Group
