One in Seven mortgages via L&G
The network aided lending of £11bn in the first half of 2013 up from £9bn in the first half of 2012 while the group reported profit after tax up by 15% to £464m compared to £405m in half one 2012.
Nigel Wilson, group chief executive, said: “Legal & General delivered another very strong performance in H1 2013, with double-digit growth in sales, cash, operating profits and profit after tax.
“I am excited about the future for Legal & General. In the last six months earnings per share are up 13% and we have increased dividends per share by 22%.
“We remain determined to deliver value to shareholders. We are equally determined to deliver value to our millions of customers. With £433bn of assets under management in LGIM, £111bn assets under administration in savings, and 8 million customers, we have the scale, strength and skill-sets to provide insurance, savings and investment solutions that work for individuals, families, companies and for UK plc.”
Housing and protection produced an operating profit of £168m in the first half of 2013 compared to £150m in the same period last year.
Meanwhile its UK protection division reported new business annual premiums of £105m down from £109m in half one of 2012.
The group also benefits from being the sole provider of retail protection to building society partners covering 87% of the sector and to the appointed representatives of the Legal & General network.