Email error sees L&G rush out results

Insurer Legal & General yesterday rushed out third quarter figures nearly two weeks ahead of schedule after releasing them to analysts by mistake.

The FTSE 100 group said it published the data – not due until November 9 – after results were "inadvertently" emailed to several analysts late yesterday.

It said: "Actual 2009 numbers and a sub-set of working draft third quarter 2010 numbers were inadvertently emailed to several analysts yesterday after 4pm, therefore we have decided to release the actual numbers to the market."

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Shares in the life and pensions firm fell despite the figures showing that worldwide new business soared by 49 per cent to 466m during the three months to September 30.

In the nine months of the year so far, global sales rose 27 per cent to 1.35bn on an annual premium equivalent (APE) basis.

The group has been benefiting from a bounce back in demand for savings products, with ISA sales rising in particular as confidence has returned to equity markets and following the increase in the annual ISA limit to 10,200.

Unit trusts and pensions have also seen a pick-up this year, although sales of housing-related and protection products have weakened amid a slowdown in the property market.

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L&G has been combating sales pressure by cutting costs – slashing its UK workforce by 17 per cent last year – while also focusing new business activity on the markets it considers to be the most attractive in terms of growth potential.