Legal & General Group Plc (LGEN) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

So good morning and a warm welcome, both to those of you in the room and to those joining online. I'm Michelle Moore, Group Strategy and Investor Relations Director. To start, a few housekeeping points. Firstly, to those in the room, please make sure you have turned your devices to silent. In the event the fire alarm sounds, colleagues will guide you to the nearest exit and the normal forward-looking statements apply. Our running order for today will be as follows. Antonio will open with a summary of our full year results and an update of the progress we're making in delivery against our strategy. Jeff will cover the financial results in more detail, and then Antonio will make closing statements before opening to Q&A, at which point he will be joined by Jeff and the CEOs of our three businesses to take your questions. Antonio, over to you. Thank you. Thank you, Michel, and good morning. It's great to see everyone. We've had a great year with strong financial performance and significant strategic progress. Our core operating profit is up 6% at £1.6 billion, and our capital generation is £1.8 billion, both demonstrating the positive fundamentals of our business. Our balance sheet continues to strengthen with the store of future profit of 14.8 billion pounds, which as you know, will release into operating profit over time. And our solvency ratio is 232%. This gives us substantial strategic flexibility. And as I promised, we are returning more capital to shareholders with a 5% increase in the dividend per share and a buyback of 500 million pounds. Our 2024 results reflect the progress we're making in executing the strategy that I shared last June to be a growing, simpler, better connected business, which becomes more capitalized over time. The business I took over last y...