News & Events

Legal & General (L&G), a prominent British life insurer, has revealed plans for a £200 million share buyback and a merger of its investment units, aiming to enhance returns. Despite these moves, the announcement left investors wanting more. L&G intends to consolidate Legal & General Investment Management, a major player in the UK stock market, with its alternative asset platform, Legal & General Capital. This strategic shift also involves the departure of LGIM CEO Michelle Scrimgeour.

The company aims for a 5% dividend per share growth in 2024, followed by 2% annually until 2027, alongside more buybacks. L&G also plans to write £50-65 billion in UK bulk annuities by 2028 to drive asset management growth.

Read the original article here: https://www.msn.com/en-gb/money/other/legal-general-shares-drop-on-250-million-buyback-merger-of-investment-units/ar-BB1o4xLa?ocid=BingNewsSearch

Afreximbank, a leading financial institution in Africa, has provided Fidelity Bank Nigeria with a $40 million investment to support its expansion. Fidelity Bank used the funds to acquire and recapitalise Union Bank UK, strengthening its presence internationally. With this acquisition, Fidelity Bank aims to offer banking services to Africans abroad and enhance trade within Africa. Kanayo Awani, an executive at Afreximbank, highlighted the importance of promoting African ownership of capital and boosting intra-African trade.

Read the original article here: https://www.africa-newsroom.com/press/afreximbank-disburses-40-million-to-support-fidelity-banks-acquisition-of-union-bank-uk?lang=en