Reinsurance News
Legal & General
LGRA estimates $9bn total premium for US PRT market in Q3’25
11th December 2025
Legal & General Retirement America (LGRA), a business unit of Legal & General America, has estimated that total premium of the US Pension Risk Transfer (PRT) market for the third quarter of 2025 will be around $9 billion, a decrease compared to $15.5 billion in Q3’24. During the first half of ... Read the full article
Donna Cowell appointed Head of Reinsurance for L&G’s Retail business
14th November 2025
Legal & General’s (L&G) Retail business, a UK provider of retirement and protection solutions, has announced the appointment of Donna Cowell to the newly created role of Head of Reinsurance, UK Protection. In this role, Cowell will work across both L&G’s Retail and Group Protection businesses to deliver a joined-up and ... Read the full article
Legal & General secures £96m pension buy-in for Cosworth Racing Limited Fund
6th November 2025
Legal & General Assurance Society Limited (L&G), a subsidiary of Legal & General Group plc and a UK financial services provider, has completed a £96 million buy-in with the Cosworth Racing Limited Pension Fund, with the transaction securing the pension benefits of more than 1,000 retired and deferred members. The Fund ... Read the full article
L&G completes £4.6 billion buy-in with two Ford pension schemes
27th October 2025
UK insurer Legal and General Assurance Society Limited (L&G) has completed two buy-ins totalling £4.6 billion with pension schemes sponsored by Ford Motor Company Limited, the Ford Hourly Paid Contributory Pension Fund and the Ford Salaried Contributory Pension Fund. The two buy-ins were completed as part of a single combined transaction, ... Read the full article
Legal & General names Gareth Mee as CEO of Institutional Retirement
14th October 2025
Legal & General Group plc (L&G), a financial services group providing insurance, investment management, and retirement solutions, has announced the appointment of Gareth Mee as Chief Executive Officer of Institutional Retirement, effective 1 December 2025. He will succeed Andrew Kail, who will take on the position of Group Chief Financial Officer, ... Read the full article
L&G completes £1.6bn buy-in with BP Pension Fund
25th September 2025
UK insurer Legal and General Assurance Society Limited (L&G) has completed a £1.6 billion buy-in with the BP Pension Fund, marking the first transaction for the £18 billion Fund. The two parties collaborated closely on the deal, including agreeing on terms designed to further strengthen the security of members’ benefits. L&G provided ... Read the full article
L&G’s 2025 global PRT monitor signals £1tn market opportunity
14th August 2025
Legal & General Group plc, a UK-based multinational financial services company specialising in insurance, asset management, and retirement solutions, has released its 2025 Global Pension Risk Transfer (PRT) Monitor. The report forecasts that over the next decade, up to £1 trillion in pension liabilities could be transferred to insurers across global ... Read the full article
L&G completes £800m buy-in with Honda Group, UK Pension Scheme
14th July 2025
UK insurer Legal & General Assurance Society Limited (L&G) has completed a c.£800 million buy-in with the Honda Group, UK Pension Scheme (the Scheme). This secures the retirement benefits of over 1,700 retirees and over 3,000 deferred members. The Scheme is a longstanding client of L&G’s Asset Management business, and hence, ... Read the full article
L&G partners with Blackstone to enhance competitive advantage in annuities
10th July 2025
Legal & General (L&G) and Blackstone have agreed a long-term strategic partnership, combining their respective credit platforms to enhance L&G’s competitive advantage in annuities and bolster its asset management proposition in key geographies and channels. Namely, L&G’s annuities business will leverage Blackstone’s private credit origination platform to access a pipeline of ... Read the full article
Lloyd’s and L&G back Togo’s sustainable development with €200m loan
4th June 2025
The Lloyd’s of London insurance market, represented by MS Amlin, Mosiac Insurance, and the Texel Group, has partnered with Legal & General in a recent transaction to bolster sustainable development in the Republic of Togo. This collaboration facilitates Togo’s inaugural sustainable loan from international investors, a €200m through a 20-year facility ... Read the full article
L&G completes buy-ins totalling £785m with three pension schemes
20th March 2025
UK insurer Legal & General Assurance Society Limited (L&G) has completed a combined £785 million buy-in with three pension schemes sponsored by Anglo American Services (UK) Ltd: The Tarmac UK Pension Scheme, the Tarmac ‘B’ Pension Scheme, and the Anglo UK Pension Scheme. The transaction secures the benefits of over 5,100 ... Read the full article
Legal & General completes £505m Inchcape pension buy-in
5th March 2025
Legal & General has completed a £505 million buy-in with the Inchcape Motors Pension Scheme, securing the benefits of 2,295 retirees and 5,890 deferred members. The transaction, completed in 2024, covers the pension liabilities of the scheme associated with Inchcape plc, a global automotive distributor operating in 32 countries across Africa, ... Read the full article
L&G to sell US insurance entity to Meiji Yasuda for $2.3bn
7th February 2025
Legal & General has agreed to sell its US insurance entity, comprising its US protection and US Pension Risk Transfer businesses, to Meiji Yasuda Life Insurance Company, a Japanese mutual life insurance company, for an equity value of $2.3 billion. Following completion, Meiji Yasuda will reportedly own L&G’s US protection business ... Read the full article
Ranked by 2023 NPW, health carriers again dominate list of world’s largest insurers
3rd January 2025
In terms of net premiums written (NPW), health insurance companies continued to dominate in 2023 as four out of the top five were US-based health insurers, with UnitedHealth Group holding on to the top spot for the 10th year in a row with NPW growth of 13%. Our ranking of ... Read the full article
AM Best upgrades L&G Re’s financial strength ratings
27th December 2024
Ratings agency AM Best has upgraded Legal & General Reinsurance Company No. 2 Limited’s (Bermuda) Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “a” (Excellent). Concurrently, the firm has also affirmed the Long-Term ICR of “a” (Excellent) ... Read the full article
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