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Legal & General targets 8-10 percent profit growth with new strategy

Reuters - UK Focus

LONDON, June 20 (Reuters) - Legal & General (LSE: LGEN.L - news) said it would set out a new strategy that aims to deliver operating profit growth of 8 percent to 10 percent per year at its capital markets day, due to kick off later on Wednesday.

The British life insurer said the strategy would be based on three key components: the broadening of investment capabilities to meet client needs, a focus on its pensions, retail and personal investing businesses and the internationalisation of its core strengths.

L&G saw a 32 percent rise in 2017 operating profit to 2.1 billion pounds ($2.8 billion), boosted by a slowdown in improvements in life expectancy in Britain.

Its capital markets day will start at 1400 GMT. (Reporting by Emma Rumney, editing by Silvia Aloisi)