Legal & General Group Plc (LGEN) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and a warm welcome to those of you in the room and to those joining online. Just a few housekeeping points to start. Firstly, to those in the room, please make sure you've turned your devices to silent. In the event that the firearm sounds, colleagues will guide you towards the nearest exit. The normal forward-looking statements apply. Our running order will be as follows. Antonio will open with a summary of our H1 results. and an update on the progress we are making in delivering against our strategy. Jeff will cover the financial results in more detail, and then Antonio will make closing statements before opening to Q&A. Antonio, over to you. Thank you, Ed, and good morning, everybody. It's great to see you here. So we've made a good start to the year. Headline half-year numbers show core operating profit slightly up compared to last year. We have grown our store of future profit by 7%, and our solvency ratio remains strong at 223%. So to reiterate what we said eight weeks ago at our capital markets event, we expect the full year core operating profit to grow by mid-single digits year on year, reflecting the strength of our business. So at the capital markets event on the 12th of June, we set out a clear and compelling vision for the group. That vision is for a simpler, better connected LNG with three businesses, institutional retirement, asset management, and retail. And with the ambition to become more capital light over time. We are now focusing on executing against that strategy. That execution is delivering three things basically, sustainable growth, sharper focus, and enhanced returns. So first, in terms of sustainable growth, our three divisions have strong growth prospects. In institutional retirement, we have written or are exclusive on five ...