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Five strategic imperatives to deliver sustainable benefits for our customers, shareholders and employees.
1 Superior financial management
Capital is a key ingredient for our business and effective capital management is an important objective. We have built a reputation as a low-cost manufacturer. As well as immediate margin enhancement, cost leadership provides the agility to react to changing circumstances quickly.
2 Diversified business
We manage our portfolio of businesses to deliver Group targets against our key metrics. We scan the market to identify new opportunities and investments to build profitable returns.
3 High quality products and broad distribution
Central to our business model is the maintenance of diversified distribution capability. The benefits of this strategy are that we are able to build scale in diversified markets and maintain growth as distribution patterns shift. Together with this, we will produce products which offer demonstrable value to customers, distributors and Legal & General, maintaining quality and ensuring a stable stream of new business.
4 Positive customer experience
We recognise our customers are at the heart of our business and consequently work hard to develop relationships with our key customer segments and distributors on mutually acceptable terms. We aim to deliver a positive financial experience for our existing customer base; treating our customers fairly and meeting, or beating, the performance assumptions made in terms of persistency, cost, claims and mortality.
5 High expectation culture
Our people are key to our continued long term success. We aim to maintain a strong management team and continually to grow the breadth and depth of our management capability. Our organisational culture already yields benefits in terms of engagement, behaviour, low turnover and cost, but we recognise the need to evolve in the current marketplace, injecting greater energy into the business to improve on our successes.