“Following the conclusion of the Prime Minister’s negotiations and the setting of a referendum date, Legal & General’s group board has considered the impact of the EU referendum on the company, its business, customers and employees,” the company said.
“Legal & General has no vote in the forthcoming referendum – the decision will be taken by the UK electorate and we do not seek to influence the outcome. We consider that a vote to leave would have little direct impact on trading for Legal & General; our customer base is located very largely in the UK, the US and Asia.”
However the LGIM board added that it considers it “probable” a Brexit involving a lengthy period of negotiation and an uncertain outcome, “would create uncertainty for markets and the broader UK economy.”
“Given the lack of clarity about potential alternative trading relationships between the UK and other jurisdictions, and the market and economic uncertainty, the economic case for leaving is unproven; we will continue to keep the situation under review as more and better data and analysis emerges,” the board continued.
The LGIM board added it will be “actively listening” to companies it invests in on the matter.
