Wednesday, 14 March 2012

FTSE results and spare capital - Legal and General

We must be entering the final straight in terms of UK disclosures (I think I've got most of them already) - L&G entered the fray today with their preliminaries, and had the following Solvency II-relevant items to disclose:
  • IGD coverage of 220% - touch down on last year, but up in absolute terms from £3.7bn to £3.8bn - interesting that they declare it post dividend, unlike Prudential yesterday (the focus on how cash generative the L&G model is in their report might explain this relative flashiness!)
  • Spend on Solvency II  (and other investment projects) up to £56m from £39m in the previous year
  • "Countercyclical dampeners" highlighted as a key area in which L&G are engaged in the debate at EU level 
I may try and round these disclosures up into a nice table once the last few put their heads above the parapet.

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