British insurer Legal & General ‘s net cash generation rose 14 percent to 943 million pounds ($1.45 billion) in the first nine months of 2015 and assets under management rose 8 percent from a year earlier, it said on Wednesday.
Net cash was boosted by greater efficiency and a rise in its UK protection and savings business, along with the firm’s “capital-lite” strategy of reinsuring business to cut capital costs, L&G said in a trading statement.
Operational cash generation rose 11 percent to 936 million pounds.
Assets under management rose to 717 billion pounds and external net inflows rose 161 percent from a year earlier to 21.7 billion…Read more at Reuters