Analyst predicts profits could fall by as much as 80%
Legal & General shares fell 7.9% to 55.8p after Société Générale moved to a "sell" rating and cut its 2009 profit estimate by 80%, The FT and Guardian report.
"L&G still has the highest exposure to equities among the UK life stocks we cover," said SocGen analyst Michael van Wegen.
"In addition, L&G has lower provisions against bond defaults. These two factors support our view that L&G is the highest risk stock in the group and thus merits a discount."
- RSA was up 0.1% to 124.3p
- Aviva was down 0.9% at 326p
- Prudential was down 5p at 404p.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
