6th May 2015 06:21
LONDON (Alliance News) - Legal & General Group PLC Wednesday said its first-quarter cash generation increased, driven by growth in its stock of assets.
In a statement, the group said that net cash generation was GBP326 million in the three months ended March 31, compared with GBP301 million in the corresponding quarter of the prior year.
Its improved operational cash generation drove the increase, with Legal & General citing an increase in annuity assets in its retirement division, in assets under management in its investment management division, and in shareholder assets in Legal & General Capital.
The group said its cash generation also was supported by higher dividends from Legal & General America.
By Samuel Agini; [email protected]; @samuelagini
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