https://www.legalandgeneralgroup.com/in ... entations/
LGEN discusses its business by these 5 categories.
LGRI & LGRR (discussed as LGR)
LGIM
LGC
LGI
See the table below.
![Image](https://i.postimg.cc/wTMWgVBr/Screenshot-20200627-115852-Drive.jpg)
The graphic (above the table) also shows how business has been progressing.
The bonds seem to be held in the "LGRx" parts of the business.
![Image](https://i.postimg.cc/fy9vpwZf/Screenshot-20200627-115834-Drive.jpg)
The quality of the bonds are indicated. From Investopedia, bond grades are discussed.
https://www.investopedia.com/ask/answer ... rating.asp
"Higher rated bonds, known as investment grade bonds, are seen as safer and more stable investments that are tied to corporations or government entities that have a positive outlook. Investment grade bonds contain “AAA” to “BBB-“ (or Aaa to Baa3 for Moody’s rating scale) ratings and will usually see bond yields increase as ratings decrease. Most of the most common "AAA" bond securities are in U.S. Treasury Bonds.
Non-investment grade bonds or “junk bonds” usually carry ratings of “BB+” to “D” (Baa1 to C for Moody’s) and even “not rated.” Bonds that carry these ratings are seen as higher risk investments that are able to attract investor attention through their high yields."
In the graphic, LGEN report that 99% fall into "investment grade" bonds.
I'm sort of coming to the conclusion that whilst one should be alert, the track record looks pretty good. I assume that LGEN have a consistent method of handling and reporting their finances and not indulging in "creative accountancy".