Legal & General expects 2025 core operating profit to grow 6%-9%

LONDON (Reuters) -British insurer Legal & General expects 2025 group core operating earnings per share to grow between 6% and 9%, in line with its three-year targets, it said on Tuesday.

It will announce a strategy for its asset management unit later on Tuesday, including plans to become a more capital-light business, sell more third-party financial products and provide clients with more sophisticated investment solutions.

The company reiterated its 2028 targets, which include delivering 500 to 600 million pounds ($679 to $814 million) in operating profit by increasing earnings through fees charged to clients while reducing costs.

Last month, Legal & General announced the merger of two of its investment units as part of efforts to cut costs and simplify its business.

($1 = 0.7369 pounds)

(Reporting by Pushkala Aripaka in Bengaluru and Andres Gonzalez in London; Editing by Nivedita Bhattacharjee and Joe Bavier)