Why did the Legal & General share price fall today?

Investors focused on a softer solvency ratio, which overshadowed a record £1.2bn buyback and 2025 EPS growth. A thinner capital buffer reduces flexibility if markets stay volatile. Until capital metrics stabilise, the Legal & General share price is likely to react more to solvency signals than to headline cash returns.

Is the £1.2bn Legal & General buyback positive for LGEN share price?

Yes, if executed steadily, buybacks can lift EPS and support the share price. The impact depends on daily execution, market liquidity, and whether capital remains robust. If solvency improves and the programme runs as planned, the LGEN share price could see more consistent support over time.

What is the solvency ratio and why does it matter here?

The solvency ratio compares eligible capital to regulatory requirements. A higher figure signals stronger resilience to shocks. Today’s concern is that Legal & General’s buffer came in below expectations. That can limit flexibility for growth and buybacks, which is why the market focused on it over other positive headlines.

What could move the Legal & General share price next?

Key drivers include updated solvency disclosures, the weekly pace of buybacks, gilt yields, credit spreads, and any pension risk transfer wins. Clear guidance on capital targets, plus steady cash generation, would likely support the Legal & General share price. Unexpected asset valuation shifts could push it the other way.

Global Market Insights

LGEN.L Stock Today, March 12: £1.2bn Buyback, Solvency Dip Hits Shares

ByHuzaifa Zahoor March 12, 2026March 12, 2026

The Legal & General share price slipped on 12 March as investors weighed a softer capital buffer against a record £1.2bn buyback and solid 2025 results. We track LGEN.L on London’s main market. Management reported 9% core EPS growth and announced a large repurchase plan. Still, a weaker solvency ratio kept sentiment cautious. Near term, the Legal & General share price likely follows capital metrics and buyback execution, while a strong pension risk transfer pipeline supports medium‑term value.