UK - Legal & General's operating profit from its UK life insurance and pensions business fell £17m to £260m in the six months to the end of June 30.
But chief executive David Prosser remained upbeat about the prospects of L&G’s life and pensions business.
“We expect improving demand for our products over the rest of the year because of a more stable investment market.”
L&G’s new business dropped 9% to £453m in the first half.
However, the group reported that funds under management grew to a record £125bn from £116bn at the end of the calendar year.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.