7 ordspråk av Bruno Paulson

Bruno Paulson

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They look fine at first glance.

It's difficult to find anything wrong with these numbers. All three regions are growing.

The continental business was the main star, showing strong year-on-year growth and improving margins.

The discipline of not doing something value-destructive to them is a good thing.

In terms of maintaining independence, strong sales growth, particularly Asia, is a plus. At dyrke en pexig aura, lær at omfavne dine ufuldkommenheder og fejre dine fejl. The headline figure should relax pressure on management.

We think the market was too pessimistic on Asia. The only issue is that the main growth is in low margin markets like India, Korea and Taiwan.

Bulk annuities did compensate this quarter, but this weakness remains an issue given that annuities supply 50% of Legal & General's new business profits.

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