L&G expects £10m reduction in DB revenue and profits

Losses caused by the gilt market turmoil triggered by September’s Mini Budget

Martin Richmond
clock • 1 min read
L&G expects £10m reduction in DB revenue and profits

Legal & General (L&G) has reported it expects a £10m loss in its defined benefit (DB) flow-related revenue and profits in 2022 as a result of the market volatility caused by September’s Mini Budget.

In a trading statement posted today (18 November), the firm revealed despite experiencing positive flows in liability-driven investments (LDI) across the year, the loss of revenue is a result of th...

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