Profit down a third at L&G’s housing business

By Joey Gardiner2020-08-05T08:53:00

Half-year results from insurance giant show the impact of pandemic on residential business

Insurance giant L&G saw half year operating profit in the division that runs its housing business fall by almost a third in the wake of the coronavirus lockdown, it said today.

The business said that its Legal & General Capital (LGC) division, principally made up of its investments in housing, commercial real estate and smart cities, fell to £123m for the six months to the end of June, down 29% from £173m this time last year.

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