L&G to Start £1.2 Billion Share Buyback as Profit Climbs

Legal & General Group Plc is planning to buy back £1.2 billion ($1.6 billion) of its shares as profits at the UK insurer and asset manager climbed.

The repurchase program is higher than last year’s £500 million and the largest in L&G’s history, the company said in a statement on Wednesday. Core operating profit came in 6% higher compared to last year at £1.62 billion.