- Pensions transfer now the main game
- Dividends look well under-pinned
Results for Legal & General (LGEN) were notable mainly for being the first under new chief executive António Simões, who took over in January from previous incumbent Sir Nigel Wilson. The company largely delivered what it said it would: a dividend growing by 5 per cent annually and consistent solvency II capital generation of £1.8bn. However, there was a measure of disappointment that the company did not outline its future strategy in more detail, preferring to leave this until a capital markets event later in June.