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Legal & General reports record profits as assets approach £1tn

The UK-listed insurer notched up pre-tax profits of £2.1bn

Legal & General reports record profits as assets approach £1tn

Insurer Legal & General reported record profits in 2017 as its fund management arm became the first in the UK to close in on £1tn in client assets.

The UK-listed company made a pre-tax profit of £2.1bn, on the back higher sales in its retirement business and improvements to its longevity assumptions, which lowered the cost of it annuity book.

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