Legal & General Group (LGEN) AGM 2025 summary

Opening remarks and agenda

• Welcomed shareholders to the hybrid AGM, emphasizing inclusivity and engagement, and outlined housekeeping and safety procedures.

• Confirmed quorum and formally opened the meeting, with a sequence of leadership remarks, business review, and Q&A.

Board and executive committee updates

• Expressed gratitude to departing directors and welcomed new board members, highlighting their expertise in financial services and asset management.

• Announced ongoing process to seek a new Chair, led by the Senior Independent Director.

• Noted several significant executive appointments, including new CEOs for asset management and retail, and a new Group COO to drive modernization.

Financial performance review

• Reported strong 2024 results: core operating profit up 6% to £1.6bn, Solvency II capital generation at £1.8bn, and a coverage ratio of 232%.

• Maintained a robust balance sheet with £14.8bn in future profit.

• Achieved record growth in institutional retirement, asset management, and retail annuities, with increased market share and margins.