Down 7.5% Looks like we we just got Raab’d
Down nearly 5% LGEN… XXXX Up to 259p now the buy @ 241p was the bottom . Last- call posted he would be in @ 244.5 ( 1.5 % higher ) with a stop loss @ 244.5 after it has passed 247.9p . It was all a bit of a riddle shares can go down , it is possible it would of gone back to 240 after 244.5p … he did not mention that more obvious stop .
Down nearly 5% The charity was humour my friend. There isnt a cause in the world id give money to, when up to 80% of each pound gets ‘absorbed’ by admin il donate food no problem . they cant do much else with that. (or can they?)
Down nearly 5% i know its a short distance. But i have respect for bears there hence the plan
Down nearly 5% no. it meant: buy at 244.5, but once price strikes 247.9, not allow holdings back into the red re exit if it returns to buy price
Down nearly 5% So to be clear are you saying you will buy @ 244.5 p and sell it @ 247.9 ? Very good you give to charity … crisis if you want any suggestions .
Down nearly 5% Some real buyers gone in here, the last few days. Price didnt move a great deal but seems to be real players at the low.Il go in 244.5 if strikes, then just move to a ‘close holdings at breakeven’ striking 247.9. See where she goes from there. Not much interest in div. Giv it to charity every year.
Down nearly 5% LGEN… XXXX He did well , Geof followed suite on Friday .
LGEN 4.4b buy in with British Airways Pension H2, Any idea what return LGEN expects to make on PRT business? If they are taking on the pension liabilities one would hope/assume that the bean counters have done their sums (and had them checked by an adult) and there is a reasonable prospect of making a return. Adding umpteen billions of liabilities covered by assets is one thing - but if those assets fall or fail to return as much as expected then the risk transferee could be in trouble. My only hope is that LGEN is timing this PRT business right (i.e. get in there early whilst companies want to derisk their pension liabilities but before it gets too competitive and margins are squeezed). Guitarsolo
LGEN 4.4b buy in with British Airways Pension Looks like evidence of headway in on of LGEN’s areas of strategic focus, with 27b of further bulk annuity business in bid. Not sure that this RNS will be enough to reverse the SP gloom which LGEN shares with many other financials currently, hopefully they will win more business and the actuaries they keep locked away calculating how long we will all last to price the bids have got their sums right. H2 RNS Number : 6568A Legal & General Group Plc 13 September 2018 Legal & General completes £4.4 billion buy-in with British Airways’ pension scheme: Largest ever UK bulk annuity Legal & General Group Plc (“Legal & General”) today announces that it has completed a £4.4 billion buy-in for British Airways PLC’s pension scheme, Airways Pension Scheme (“APS”), covering nearly 22,000 pensioners. This is the largest ever bulk annuity policy arranged with a UK pension scheme and also included the conversion of existing longevity insurance into a bulk annuity. As announced at the half year results, the UK pension risk transfer (“PRT”) market continues to demonstrate a high level of activity with Legal & General actively quoting on more than £20 billion, of which more than £7 billion were in exclusive negotiations at the time. Since then, Legal & General has completed £4.8 billion of UK PRT transactions, including the APS buy-in, and is now actively quoting on £27 billion of UK PRT deals. Additionally Legal & General has continued to show strong momentum in International PRT, completing £191 million of transactions since the end of June. In aggregate, Legal & General has completed £6.0 billion of global pension de-risking transactions year to date (UK PRT: £5.3 billion, International PRT: £0.4 billion, Longevity Insurance: £0.3 billion). The financial metrics and Solvency II capital strain of these transactions are in line with previous levels reported by Legal & General. Nigel Wilson, Chief Executive, Legal & General Group, said: “I’m delighted that Legal & General has transacted the largest bulk annuity to date in the UK for British Airways’ pension scheme. As we indicated at the half year results, the second half of 2018 is likely to be a record six months for our PRT business and we expect to announce further transactions in the next few months. We are actively quoting on £27 billion of UK PRT deals demonstrating the strong demand for insurance, supported by increasing affordability, as trustees seek to improve security for members and companies look to remove legacy liabilities. Legal & General’s combination of longevity and investment management expertise uniquely positions us to deliver at scale, providing solutions that benefit schemes and their members.” Laura Mason, CEO Legal & General Retirement Institutional, said: "We are proud to have delivered this ground-breaking transaction, the largest bulk annuity transaction completed in the UK market. This is a great example of Legal & General delivering for UK companies and their pension members, enabling pension schemes to provide security to their pensioners in retirement. This transaction also included the conversion of existing longevity insurance to a bulk annuity, demonstrating Legal & General’s ability to deal with a complex situation and offer innovative solutions drawing on the broad experience and capabilities of the wider Legal & General Group. The depth and scale of our Retirement business means that we can confidently deliver for APS scheme members, whilst maintaining capacity for further de-risking activity in the near term." ENDS
H1 Results Lawson 76, Hi H2, Like you I am holding L & G for the long term! I think in view of the market`s volatility during this last half year, their result is pretty good. As you imply hopefully it will improve in the next half year?
H1 Results Looks like most of the business has been making progress, but gains made were wiped out by lower “positive investment variance” 33m Vs 175m in 2017, a disappointment aggravated by being pompous nonsense. Profit before tax decreased due to lower positive investment variance as a result of volatility in global financial markets in H1 2018 (H1 2018: £33m, H1 2017: £175m). This included a £(90)m (H1 2017: £52m) loss primarily from the LGC traded assets portfolio, reflecting market performance versus our long term economic assumptions. FTSE was down 0.7% in H1 Vs up 2.4% in H1 17 but I guess they lost money in other areas, hardly a shining record for an Investment management company to hold up if they can’t make money with their (out) own money but hopefully they will do better over the longer term. Actually overall I think this is not a bad result despite the Net profit fall of 9% (exc mortality release) and EPS fall of 8% due to above and non-recurrence of mortality release in H1 2017. Int divi up from 4.3 to 4.6p. Interesting to see if this sends SP back into the downtrend, I’m holding for the long term and expected 6%+ forward yield. H2
Capital Markets Event LGIM 20 Jun LGEN a little weaker last few weeks, Wed’s event may bring a little interest. H2
Risk Taking Me too. I have been trolling these boards for many years, more off than on, and regularly sought out LKH, Games, Eadwig et al to make sense of everything. I say trolling, because on the old platform I was never able to work out how to contribute so every time I clicked reply, it wanted me to go through hoops beyond those I went through to become an ii(i) investor in the first place. Now, here I am trying again and at least it is letting me compose a message, although god knows what hoops it is about to throw up. Anyway, I just wanted to add my thanks and best wishes to the lord of the flybridge who managed to (partially) edumacate this particular dweeb.
Re: Intends to buy and develop propertie... And also, if L & G wish greater exposure to the residential property market, they should do so via a fund set up for the purpose, not with their shareholders funds. We wouldn't expect our REITS investments to be offering financial services on the side.