Legal & General’s 2007 results show the continuing strong performance of the business despite more difficult market conditions.
This section of the Annual Report sets out information on the Group’s principal activities together with a review of the development and performance of the Group, including financial performance, in accordance with Section 234ZZB Companies Act 1985. Disclosures in Governance form part of this Directors’ Report.
Legal & General Group Plc is the ultimate holding company for a group of Risk, Savings and Investment Management businesses. The Company’s principal operating subsidiaries are set out in Note 45 of the Financial Statements. The way in which Legal & General reports its financial results differs for historical reasons from its business division management structure. For financial reporting purposes the business is covered under three main business segments: Life and Pensions, Investment Management and General Insurance. Life and Pensions includes Protection and Annuities, Wealth Management and With-profits businesses in the UK and the international businesses.
Two reporting bases are used: European Embedded Value (EEV) and International Financial Reporting Standards (IFRS). These are explained in the Finance Director’s Review.
