Financial highlights

 
  2017 2016 Growth
Dividend per share (pence) 15.35 14.35 7%
       
LGIM AUM (£bn) 983.3 894.2 10%
Annuity assets (£bn) 58.2 54.4 7%
UK protection premiums (£m) 1,558 1,512 3%
Group Direct investments (£bn) 14.4 10.0 44%
       
Net release from cont. operations1 (£m) 1,352 1,242 9%
Operating profit2 (£m) 2,055 1,562 32%
Profit after tax2, 3 (£m) 1,902 1,265 50%
Earnings per share2, 3 (pence) 31.87 21.22 50%
       
Solvency II coverage ratio (%) 189 171  
Solvency II net surplus generation (£bn) 1.2 1.1  
Solvency II surplus (£bn) 6.9 5.7  
Return on equity2, 3 (%) 25.6 18.8  
  1. Excludes businesses disposed of comprising Mature Savings, Legal & General Netherlands, Suffolk Life, Cofunds and IPS.
  2. Mortality releases from LGR’s £46.5bn of net longevity exposure comprises £206m relating to changes in longevity improvement assumptions to align to CMI 2015 tables, and a £126m base mortality release as reported in H1 2017.
  3. Includes one-off £246m tax benefit arising on revaluation of net deferred tax liabilities relating in the US, largely relating to the US protection business following the US corporate income tax rate reduction from 35% to 21%.
     
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