Insurance giant Legal & General has reported post-tax profits of more than £1 billion in the first half of the year, a significant jump from the £290 million accumulated during the same period of 2020.

The company’s operating profit increased by 14 per cent to £1.07 billion in the first six months of the year.

In light of its strong financial results, Legal & General revealed it would be increasing its interim dividend by 5 per cent to 5.18p from 4.93p in the previous year, returning £309 million to shareholders.

“Thanks to the hard work and dedication of my colleagues across Legal & General, we have delivered a strong set of financial results,” said Nigel Wilson, chief executive. “And we expect to deliver double-digit growth in operating profit at the full year.”

Wilson added: “We’re continuing to make investments that are economically, environmentally and socially valuable, in line with our long term commitment to delivering Inclusive Capitalism and supporting the Building Back Better and Levelling Up agenda.”

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