Reinsurance News

L&G Retirement America records $628mn of Q3 premium

16th October 2020 - Author: Matt Sheehan

Legal & General Retirement America (LGRA), part of the US arm of the multinational financial services and insurance firm, has recorded more than $628 million in premiums for the third quarter of 2020.

Legal_&_GeneralThe figure brings LGRA’s total amount of premiums written this year to nearly $1 billion.

From July to September, LGRA completed six transactions, securing coverage for over 8,500 participants.

The deals, which exclusively cover US pension plans, range in size from approximately $67 million to $214 million.

LGRA noted continued appetite in the US pension risk transfer (PRT) market, with forecasts putting the market total at around $25 billion by the end of the year.

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“We’re thrilled with our continued progress in helping clients through their de-risking journeys,” said George Palms, President, Legal & General Retirement America.

“Our team’s ability to maintain such an impressive level of customer service and to transact by pricing, negotiating and finalizing deals in a remote environment has helped lead us to our strongest Q3 yet,” Palms continued.

“We’re looking forward to continuing to support our existing clients along their journeys, in addition to welcoming new ones as we move through another active quarter to round out the year.”

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