Legal and General Report Savings Boom
L&G report a record year for savings deposits
27th January 2006
Legal and General (L&G) have released sales figures for 2005, which show a record £24bn was invested in its products by savers.
The news comes after reports of similarly strong results at other financial institutions, and is being widely taken as a sign that Briton's are rediscovering a savings culture after years of spending and debt accumulation.
The company also pointed out that the results showed L&G had successfully expanded beyond its core life insurance business, with new chief executive Tim Breedon saying:
"Don't think of us as a life insurer but as a broadly balanced savings, investment and protection products group. That gives us a very good platform from which to move forward."
Read More: The Guardian : After the spree, hard-up Britons discover savings culture
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