By Elena VardonLegal & General Group beat expectations as it reported operating profit and a solvency ratio ahead of views for the first half of 2023 and backed its mid-term targets. Operating profit from divisions was GBP1.14 billion, against consensus expectations of GBP1.03 billion and GBP1.15 billion a year prior. Its solvency coverage ratio--a key measure of balance-sheet strength--stood at 230%, while consensus had expected a ratio at 225%. "We remain on track to achieve our five-year ambitions and deliver attractive returns for our shareholders," said outgoing Chief Executive Nigel Wilson. Write to Elena Vardon at elena.vardon@wsj.com(END) Dow Jones NewswiresAugust 15, 2023 02:35 ET (06:35 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal August 15, 2023 12:41 UTC