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Legal & General targets US acquisitions as profit climbs

The company said its targeting the United States for expansion after the U.K.s biggest manager of pension assets posted higher earnings and an increased dividend.

By Sarah Jones | Updated on March 05, 2014

March 5 (Bloomberg) — Legal & General Group Plc said it’s targeting the U.S. for expansion after the U.K.’s biggest manager of pension assets posted higher earnings and an increased dividend.

The London-based insurer increased its full-year operating profit 7 percent to 1.16 billion pounds ($1.9 billion) in 2013 and raised its final dividend 22 percent to 9.30 pence a share, according to a statement today. Its investment unit attracted record net inflows of 15.7 billion pounds from international clients, with assets jumping 37 percent.

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