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Legal & General Group, the UK's fifth largest insurer, has risen on the FTSE 100 today after Peter Chambers, of the Investment Management (IM) division announced his retirement.
The share price which has risen 11 pct these last weeks, rose another 0.96 pct today to 83.75.
"By my retirement date, I will have completed nearly five years as CEO of LGIM, over which time a great deal has been achieved. I wish to retire and feel this is a good time to hand over to a new generation of management" Chambers said
The life-insurer has benefitted from rises in Financials and other insurance companies posting 'strong' Q4 new business results recently despite its own lagging behind expectation.
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