Legal & General Group - Re: LGEN Stream Log - Beaufort note out on research...

Beaufort note out on research tree... "The update underpins Legal & General’s strong position to face the consequences of Brexit. Its solvency II coverage ratio, a key metric in the insurance sector, remains healthy. Legal & General has a diversified portfolio. Moreover, its global credit team is continuously monitoring the portfolio and de- risking the credit portion of eligible owned funds. The company has a solid balance sheet, with cash and cash equivalents within eligible owned funds standing at £3.3bn. It is executing its strategy structured around five long-term drivers: ageing population, globalisation of asset markets, creation of new real assets, welfare reform and digital. Furthermore, Legal & General would benefit from the appointment of Sir John Kingman, who has impressive track record and in-depth knowledge of the financial market. We believe the company is comfortably placed with adequate funds and portfolios to mitigate economic downturn after Brexit."