What are Mission Vision & Core Values of Legal & General Group Company?

The mission's emphasis on the "long term" is crucial. L&G Group prioritizes investments and business strategies that deliver sustained value over time, rather than short-term gains. This approach is fundamental to their Corporate Strategy.

L&G's mission is inclusive, targeting a wide range of beneficiaries. This includes individual savers, pension scheme members, and institutional clients globally. This broad reach highlights the Company Values of inclusivity and responsibility.

To achieve its mission, L&G offers a comprehensive suite of products and services. These range from insurance and investment management to retirement solutions, catering to various financial needs and risk profiles. The Revenue Streams & Business Model of Legal & General Group details how these offerings contribute to their overall strategy.

L&G focuses on sustainable growth within its core business areas. These include Institutional Retirement, Asset Management, and Retail. This strategic focus ensures long-term viability and positive impact.

The Institutional Retirement business secures benefits for millions, while Asset Management offers diverse investment solutions. Retail partners with customers throughout their lives. In 2023, L&G’s total assets under management were £1.1 trillion, demonstrating its significant impact.

The mission is strongly aligned with responsible investing principles and creating a better future. This includes a focus on environmental, social, and governance (ESG) factors, reflecting L&G's commitment to Legal & General mission statement and positive societal outcomes.

The vision explicitly aims for growth, signaling L&G's ambition to expand its market presence and financial performance. This growth is not just about size; it's about strategic expansion within their core business divisions.

The vision emphasizes simplification, suggesting a streamlining of operations and a focus on core competencies. This could involve divesting non-core assets or optimizing internal processes to enhance efficiency.

The "better-connected" aspect of the vision highlights the importance of internal collaboration and synergy. This suggests efforts to improve communication, data sharing, and cross-divisional cooperation.

The vision clearly identifies three core business divisions: Institutional Retirement, Asset Management, and Retail. This focused approach allows for targeted investment and strategic resource allocation.

The vision underscores the importance of a shared sense of purpose and the synergistic benefits between divisions. This fosters a unified company culture and maximizes the collective strength of L&G Group.

The vision strikes a balance between realism and aspiration. L&G is already a major player, but aims to become even more efficient and interconnected, leveraging its existing strengths for further growth.

A significant example of this influence is the strategic decision to combine Legal & General Investment Management (LGIM) and Legal & General Capital (LGC) into a single Asset Management division. This consolidation aims to create a more scaled, international business with deep expertise across public and private markets. This move aligns with the vision of a "simpler, better-connected" L&G and the mission of "Investing for the long term."

The continued focus on the Institutional Retirement business, securing defined benefit pension holders' benefits, directly reflects L&G's purpose of safeguarding people's financial futures. In 2024, this business wrote £10.7 billion of global PRT (Pension Risk Transfer) new business, demonstrating its commitment to this area.

L&G's commitment to responsible investing, stemming from its purpose and values, significantly influences investment decisions. They have invested £3.3 billion in transition finance, including renewable energy and green bonds. This demonstrates how L&G's broader purpose guides specific capital allocation decisions and its approach to corporate strategy.

The influence also extends to capital management and shareholder returns. L&G's strategy includes a clear capital allocation framework and plans to return over £5 billion to shareholders between 2025-2027 through dividends and buybacks. This reflects a commitment to creating value for shareholders alongside other stakeholders.

Legal & General's core values and business philosophy drive its impact on society. This includes investments in social and affordable housing, urban regeneration projects, and infrastructure development, all contributing to a better society.

L&G's commitment to its employees is also a key aspect of its values. This includes fostering a diverse and inclusive workplace, providing opportunities for professional development, and promoting employee well-being.

Leadership plays a vital role in reinforcing the mission, vision, and core values of Legal & General. CEO António Simões has been instrumental in communicating the refreshed strategy and the importance of the shared sense of purpose.

Legal & General employs various communication channels to disseminate its mission, vision, and core values to all stakeholders. This multi-channel approach aims to ensure that everyone understands and aligns with the company's purpose and values.

Concrete examples of how Legal & General aligns its stated values with its business practices include its investments in private markets and sustainable assets. Their Asset Management division is actively growing its private markets platform, with £57 billion in AUM as of FY24, targeting £85 billion by 2028.

Legal & General has established formal programs and systems to ensure alignment between its values and actions. Their approach to responsible investing integrates ESG considerations across asset classes. Furthermore, they utilize a Social Impact Toolkit to measure and enhance the impact of their investments.