Legal & General Group (LGEN) AGM 2026 summary

Opening remarks and agenda

• The meeting was held in a hybrid format, welcoming both in-person and virtual attendees, with emphasis on accessibility and shareholder engagement.

• The agenda included reflections on achievements, financial performance review, board changes, and a Q&A session.

Board and executive committee updates

• Significant leadership transitions occurred: Geoffrey Timms retired as Company Secretary after 27 years, succeeded by Maria Alvarez-Scott.

• Sir John Kingman stepped down as Chair after nine years, succeeded by Scott Wheway.

• Andrew Kail became Group CFO, Gareth Mee became CEO of Institutional Retirement, and Emma Holden joined as Chief People Officer.

• Mark Jordy joined as Independent Non-Executive Director, bringing extensive asset management experience.

Financial performance review

• Core operating profit rose 6% to GBP 1.6 billion in 2025; core operating EPS grew 9%, at the top end of the 6%-9% target range.

• The pro forma Solvency II ratio stood at 210% after the U.S. protection business disposal and share buyback.

• GBP 11.8 billion of global pension risk transfer (PRT) business was written, with a 27% UK market share.

• Asset management reached GBP 1.2 trillion in AUM, with private markets growing 32% to GBP 75 billion.

• Workplace DC assets grew 21% to GBP 114 billion, and annuities new business totaled GBP 1.8 billion.