[Legal & General]
Annual Report and Accounts 2010

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Our performance.

Nigel Wilson, Group Chief Financial Officer (photo)

“WE HAVE RESTRUCTURED THE ECONOMICS OF THE GROUP, ALLOWING US TO TAKE ADVANTAGE OF GROWTH OPPORTUNITIES IN OUR MARKETS WHILST CONTINUING TO DELIVER HIGH QUALITY, SUSTAINABLE CASH-FLOW TO FUND THE PAYMENT OF DIVIDENDS. THIS DEMONSTRATES THAT GROWTH DOES NOT NEED TO BE AT THE EXPENSE OF CASH GENERATION.”

NIGEL WILSON
GROUP CHIEF FINANCIAL OFFICER

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GROUP PERFORMANCE

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IFRS1 basis

 

 

 

2010

2009

1

International Financial Reporting Standards.

2

Annual Premium Equivalent (APE) is total new annual premiums plus 10% of single premiums. Excludes institutional investments in unit trust funds which are disclosed under investment management new business.

3

Funds Under Management.

4

European Embedded Value.

Profit before tax

£1,092m

£1,074m

Profit after tax

£820m

£844m

Ordinary shareholders’ equity

£4,827m

£4,196m

Return on Equity (ROE)

18.2%

22.2%

Dividend per share

4.75p

3.84p

Worldwide new business APE2

£1,781m

£1,388m

Worldwide FUM3

£365bn

£334bn

 

 

 

EEV4 basis

 

 

 

2010

2009

Profit from continuing operations before tax

£1,677m

£552m

Profit after tax

£1,264m

£497m

Contribution from new business

£377m

£328m

Ordinary shareholders’ equity

£7,730m

£6,695m

EEV per share

£1.32

£1.14

NET CASH GENERATION

£728m

(2009: £699m)