Legal & General Group Plc · LSE:LGEN
Legal & General — Shareholder Meeting (2005)
17 slides from Legal & General's shareholder meeting presentation, 2005
Slide 1: Legal & General Group Plc Annual General Meeting 2005
Legal & General Group Plc Annual General Meeting 2005 teat General
Slide 2: Rob Margetts, Chairman
Legal & General Group Plc Annual General Meeting 2005 Rob Margetts, Chairman a Legal & General
Slide 3: Important Issues for Legal & General
Important Issues for Legal & General • Savings in the UK • Financial Services and Markets Tribunal • Group Chief Executive Succession • Share Price and Dividends
Slide 4: Savings in the UK
Savings in the UK • Insufficient campaign attention • Additional incentives needed • Employers should match employees’ pension savings • Pension saving in a company scheme to become the norm again
Slide 5: Financial Services and Markets Tribunal
Financial Services and Markets Tribunal • Appeal against Decision Notice • New hearing at Tribunal last Autumn • Initial judgement in January • Final hearing this week
Slide 6: Group Chief Executive Succession
Group Chief Executive Succession • Excellent pool of managers • Internal/ external search • Meetings and interviews underway • Announcement in the course of the summer • Not seeking to change successful strategy
Slide 7: Total Shareholder Return comparison – year
Total Shareholder Return comparison – 1 year 30% 25% 20% 19% 17% % increase 15% 10% 10% 5% 0% Legal & General FTSE 100 Index FTSE Life Index
Slide 8: Total Shareholder Return comparison – years
Total Shareholder Return comparison – 5 years Legal & General FTSE 100 Index FTSE Life Index 0% -5% -10% -9% -10% % decrease -15% -20% -22% -25% -30%
Slide 9: Total Shareholder Return comparison – years
Total Shareholder Return comparison – 10 years 300% 268% 250% 200% 163% % increase 150% 107% 100% 50% 0% Legal & General FTSE 100 Index FTSE Life Index
Slide 10: Total Shareholder Return September 1991 – April 2005
Total Shareholder Return 11 September 1991 – 25 April 2005 450% 411% 400% 350% 300% % increase 250% 198% 200% 150% 119% 100% 50% 0% Legal & General Total FTSE 100 Total Return Base Rate Interest Return
Slide 11: Fourteen Years of Growth
Fourteen Years of Growth 1991 2004 Profit After Tax (MSSB) £33m £464m Worldwide new business APE £332m £1,008m Funds under management £19bn £167bn
Slide 12: David Prosser, Group Chief Executive
David Prosser, Group Chief Executive
Slide 13: Market Share – Consistent Outperformance
Market Share – Consistent Outperformance 10% 9.5% 9% Total Retail 8% 7% 6% 5% 4% Source: ABI Market Statistics Exchange 3% 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Slide 14: Operational Highlights
Operational Highlights • No 1 Protection provider; 17% Market Share • Group risk sales up 74% • Unit-linked bonds sales up 166% • New partners include: • Sainsbury’s Bank • Birmingham Midshires • Bradford & Bingley • Cofunds joint venture announced • LGIM is largest manager of UK Pension Funds and l
Slide 15: Excellent First Quarter New Business Results
Excellent First Quarter New Business Results • Worldwide sales up 43% • Core UK life and pensions sales up 35% • Individual life & pensions up 21% • Group business up 117% • Exceptional retail investment growth up 92% • Retail market share likely to exceed 10% • LGIM average £1bn per month new busin
Slide 16: Designed for Growth
Designed for Growth • Efficient business with scale • Single product set • Single brand • Powerful distribution franchise • Robust capital position • Management focus on profitable growth • Expect to continue outperforming
Slide 17: Legal & General Group Plc Annual General Meeting 2005
Legal & General Group Plc Annual General Meeting 2005 teat General