Investor news

Legal & General: Annuity Bond Portfolio

Following a number of enquiries from sell side analysts and investors, Legal & General Group plc (“Legal & General”) is providing a provisional, unaudited analysis of our annuity bond portfolio as at 31 December 2015. Final audited analysis will be provided with the 2015 Preliminary Results on 15 March 2016.

 

As at 31 December 2015, we held a bond portfolio backing our annuity business of c.£39 billion (unaudited) (2014: £40.7bn).  The asset portfolio is diversified by industry sector, geography and issuer.  Details of our ratings and sector diversification split of that portfolio are shown in the tables below.

 

Legal & General Retirement (“LGR”) annuity bond portfolio analysed by credit rating (unaudited):

 

At 31 December 2015

Externally rated bonds

Internally rated bonds, direct investments and CDOs

Total LGR bond portfolio

AAA

4.4%

-

4.4%

AA

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