REG - Legal & General Grp - Q3 2014 Interim Management Statement <Origin Href="QuoteRef">LGEN.L</Origin> - Part 3
04/11/2014 08:06
- Part 3: For the preceding part double click ID:nRSD0465Wb
Net flows 1.5 (0.7) 0.5 0.2 - 0.1 1.6 0.1 2.8
Market and other
movements - 0.5 (0.1) 0.1 (0.1) (0.1) 0.3 0.2 1.1
At 31 March 2014 65.6 36.1 9.1 6.9 4.4 (6.8) 115.3 20.8 38.3
Gross inflows5 2.2 0.3 0.6 0.3 0.1 (0.1) 3.4 0.9 0.2
Gross outflows (1.2) (1.1) (0.1) (0.1) (0.1) 0.2 (2.4) (1.5) -
Payments to pensioners - - - - - - - - (0.5)
Net flows 1.0 (0.8) 0.5 0.2 - 0.1 1.0 (0.6) (0.3)
Market and other
movements 0.8 0.6 (0.1) 0.1 0.1 - 1.5 0.4 0.5
At 30 June 2014 67.4 35.9 9.5 7.2 4.5 (6.7) 117.8 20.6 38.5
Gross inflows5 2.8 0.4 0.7 0.4 0.1 (0.2) 4.2 1.2 0.4
Gross outflows (1.3) (1.2) (0.2) (0.2) (0.1) 0.2 (2.8) (1.3) -
Payments to pensioners - - - - - - - - (0.6)
Net flows 1.5 (0.8) 0.5 0.2 - - 1.4 (0.1) (0.2)
Market and other
movements 0.1 0.4 0.1 0.1 (0.1) (0.1) 0.5 0.2 1.6
At 30 September 2014 69.0 35.5 10.1 7.5 4.4 (6.8) 119.7 20.7 39.9
1. Platforms includes Investor Portfolio Services (IPS) and Cofunds since acquisition.
2. Mature Retail Savings includes with-profits products, bonds and retail pensions.
3. Consolidation adjustment represents Suffolk Life and Mature Retail Savings assets included in the Platforms column.
4. Q3 14 Retail Investments includes £1.6bn (Q1 14: £1.6bn; Q2 14: £1.5bn) of LGIM unit trust assets held on our Cofunds platform and £3.2bn (Q1 14: £3.2bn;
Q2 14: £3.2bn) of LGIM unit trust assets held on our IPS platform.
5. Platforms gross inflows include Cofunds institutional net flows.
Assets under administration quarterly progression (continued)
Consol-
Mature Overseas idation Retail
Retail Work- Suffolk LGAS adjust- Total Invest-
For the year ended Platforms1 Savings2 place Life Savings ment3 LGAS ments4 Annuities
31 December 2013 £bn £bn £bn £bn £bn £bn £bn £bn £bn
At 1 January 2013 8.6 36.2 6.0 5.1 4.5 (1.4) 59.0 18.6 32.2
Gross inflows 0.2 0.4 0.5 0.2 0.1 - 1.4 0.7 0.8
Gross outflows (0.2) (1.2) (0.2) (0.1) (0.1) 0.1 (1.7) (1.1) -
Payments to pensioners - - - - - - - - (0.4)
Net flows - (0.8) 0.3 0.1 - 0.1 (0.3) (0.4) 0.4
Market and other
movements 0.5 1.7 0.6 0.3 - (0.1) 3.0 1.2 0.7
At 31 March 2013 9.1 37.1 6.9 5.5 4.5 (1.4) 61.7 19.4 33.3
Gross inflows5 1.7 0.4 0.5 0.3 - - 2.9 1.1 0.6
Gross outflows (0.7) (1.4) (0.1) (0.1) - - (2.3) (1.0) -
Payments to pensioners - - - - - - - - (0.5)
Net flows 1.0 (1.0) 0.4 0.2 - - 0.6 0.1 0.1
Cofunds acquisition 45.7 - - - - (5.4) 40.3 - -
Market and other
movements (2.1) (0.4) - - - 0.3 (2.2) (0.4) (1.2)
At 30 June 2013 53.7 35.7 7.3 5.7 4.5 (6.5) 100.4 19.1 32.2
Gross inflows5 4.5 0.3 0.5 0.4 - (0.1) 5.6 1.0 2.3
Gross outflows (1.2) (1.4) (0.1) (0.1) - 0.2 (2.6) (0.9) -
Payments to pensioners - - - - - - - - (0.5)
Net flows 3.3 (1.1) 0.4 0.3 - 0.1 3.0 0.1 1.8
Market and other
movements 1.3 1.4 0.2 0.1 - (0.2) 2.8 0.6 0.5
At 30 September 2013 58.3 36.0 7.9 6.1 4.5 (6.6) 106.2 19.8 34.5
Gross inflows5 4.6 0.3 0.6 0.4 - (0.2) 5.7 0.8 0.3
Gross outflows (1.0) (1.1) (0.2) (0.1) - 0.2 (2.2) (0.7) -
Payments to pensioners - - - - - - - - (0.5)
Net flows 3.6 (0.8) 0.4 0.3 - - 3.5 0.1 (0.2)
Market and other
movements 2.2 1.1 0.4 0.2 - (0.2) 3.7 0.6 0.1
At 31 December 2013 64.1 36.3 8.7 6.6 4.5 (6.8) 113.4 20.5 34.4
1. Platforms includes Investor Portfolio Services (IPS) and Cofunds since acquisition.
2. Mature Retail Savings includes with-profits products, bonds and retail pensions.
3. Consolidation adjustment represents Suffolk Life and Mature Retail Savings assets included in the Platforms column.
4. FY 13 Retail Investments includes £1.5bn (Q1 13: £1.3bn; Q2 13: £1.3bn; Q3 13: £1.4bn) of LGIM unit trust assets held on our Cofunds platform and £3.2bn
(Q1 13: £3.1bn; Q2 13: £3.0bn; Q3 13: £3.1bn) of LGIM unit trust assets held on our IPS platform.
5. Platforms gross inflows include Cofunds institutional net flows.
Annuities single premiums
Single Single Single
premiums premiums premiums
30.09.14 30.09.13 31.12.13
£m £m £m
Individual Annuities 508 1,077 1,277
Bulk Purchase Annuities 3,368 2,613 2,812
Total Annuities 3,876 3,690 4,089
Annuities single premiums quarterly progression
3 3 3 3 3 3 3
months months months months months months months
to to to to to to to
30.09.14 30.06.14 31.03.14 31.12.13 30.09.13 30.06.13 31.03.13
£m £m £m £m £m £m £m
Individual Annuities 125 139 244 200 323 348 406
Bulk Purchase Annuities 233 90 3,045 199 1,943 313 357
Total Annuities 358 229 3,289 399 2,266 661 763
Insurance new business
Annual Annual Annual
premiums premiums premiums
30.09.14 30.09.13 31.12.13
£m £m £m
UK Retail Protection 124 105 148
UK Group Protection 54 57 70
France Protection 33 21 21
Netherlands Protection 3 5 7
US Protection 70 73 99
Longevity Insurance - 175 270
Total Insurance new business 284 436 615
Insurance new business annual premiums quarterly progression
3 3 3 3 3 3 3
months months months months months months months
to to to to to to to
30.09.14 30.06.14 31.03.14 31.12.13 30.09.13 30.06.13 31.03.13
£m £m £m £m £m £m £m
UK Retail Protection 41 41 42 43 40 38 27
UK Group Protection 14 20 20 13 17 20 20
France Protection - - 33 - - - 21
Netherlands Protection 1 - 2 2 1 2 2
US Protection 23 24 23 26 28 23 22
Longevity Insurance - - - 95 - - 175
Total Insurance new business 79 85 120 179 86 83 267
Gross written premiums on Insurance business
9 9 12
months months months
to to to
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