Advertise here, Reinsurance News

Menu

Reinsurance News

Legal & General

L&G Re develops blockchain reinsurance platform for pension risk transfer

12th June 2019

Legal & General Reinsurance (L&G Re), the global reinsurance hub of the Legal & General Group, has announced the launch of estua-re, the first pension risk transfer (PRT) reinsurance platform to be powered by blockchain technology. The platform is reportedly capable of driving every stage of the PRT reinsurance value chain, ... Read the full article

Legal & General enters £4.6bn bulk annuity deal with Rolls Royce

6th June 2019

Legal and General Assurance Society Limited has entered into a partial buy-in to buyout bulk annuity transaction with the Rolls-Royce UK Pension Fund (RRPF) worth £4.6 billion. The deal, which Legal & General claims is the largest UK bulk annuity transaction to date, will secure the benefits of around 33,000 in-payment ... Read the full article

Allianz in advanced talks to acquire L&G’s home insurance operation: Sky News

29th April 2019

Sky News has reported that global insurance giant Allianz is in advanced talks to purchase the home insurance business of Legal & General (L&G). According to reports, the British life insurance company's home insurance unit had been put up for sale last year, with Sky News reporting in December 2018 that ... Read the full article

Legal & General completes £95m buy-in with 3i Group Pension Plan

26th April 2019

Legal & General has announced the completion of a £95 million buy-in with the Trustees of the 3i Group Pension Plan. 3i is an international investment manager focused on mid-market private equity and infrastructure. The buy-in covers roughly 20% of the plan’s liabilities for pensions already in payment. Along with with the buy-in ... Read the full article

Legal & General enters $200mn pension risk transfer deal in Canada

24th April 2019

Legal & General Group plc has announced that it has agreed its first pension risk transfer (PRT) transaction in Canada for more than CAD $200 million (£114 million). The transaction is being written by Brookfield Annuity Company and Legal & General Reinsurance Company Limited, which will provide quota-share reinsurance for Canadian ... Read the full article

Legal & General completes £230m buy-in with Howden Group pension plan

21st March 2019

Legal & General has announced the completion of a £230 million full-scheme buy-in with the Howden Group pension plan. The transaction follows a previous £250 million deal for another UK based pension scheme in the Colfax Corporation group at the end of 2017. Chris DeMarco, Managing Director, UK Pensions Risk Transfer said ... Read the full article

Legal & General announces £500mn buy-in with Pearson Pension Plan

25th February 2019

Legal & General has announced the completion of a c.£500 million buy-in transaction with the Pearson Pension Plan, covering approximately 2,200 current pensioner members. In 2017, Legal & General provided a c.£600 million pension buy-in with the Pearson Pension Plan, covering approximately 2,400 members. And, the new £500 million transaction, alongside ... Read the full article

Legal & General announces launch of Smart Adjusting initiative

1st November 2018

British multinational financial services firm Legal & General has announced the launch of its Smart Adjusting initiative, a tailored solution for large loss claims via a panel of handpicked adjusters. Having engaged with a large number and variety of providers across the UK market, L&G states that it will work in ... Read the full article

Legal & General completes £2.4bn Nortel pension buyout

9th October 2018

Legal & General has completed a £2.4 billion buyout of the Nortel Networks UK Pension Plan, covering approximately 15,500 pensioner members and around 7,200 deferred members. Nortel went into administration in 2009 and the plan entered a Pension Protection Fund (PPF) assessment period, where it has remained whilst worldwide litigation and ... Read the full article

Legal & General completes £4.4bn pension buy-in with British Airways

13th September 2018

Legal & General has completed a £4.4 billion buy-in for British Airways PLC’s pension scheme, Airways Pension Scheme (APS), in what it claims to be the largest ever bulk annuity policy arranged with a UK pension scheme. The transaction, which covers nearly 22,000 pensioners under British Airways’ APS scheme, also included ... Read the full article

L&G in £300mn longevity insurance deal, 100% reinsured by SCOR

22nd August 2018

Legal & General (L&G) has announced the completion of its first streamlined longevity transaction, covering approximately £300 million (US$387mn) of liabilities of an unnamed mid-tier pension scheme. The deal is L&G's first entry in the longevity insurance market for smaller schemes. According to L&G, to date, longevity swap deals have been ... Read the full article

Legal & General’s U.S Pension Risk Transfer business volume nears $2bn

3rd July 2018

Legal & General has announced that its Pension Risk Transfer (PRT) business has experienced continued growth since the company entered the U.S market less than three years ago, having written nearly $2 billion in total volume across 28 clients. The business has also amassed a global annuity book of nearly $80 ... Read the full article

Legal & General completes £325m Heathrow pension scheme buy-in

15th June 2018

Legal & General (L&G) has completed a £325 million buy-in to Heathrow’s BAA Pension Scheme, covering 1,300 of the Schemes’ members. The transaction accompanies the issuing of a £160 million long-dated, index-linked bond directly to L&G by the pension fund’s sponsoring employer, Heathrow Airport Holdings Ltd. L&G worked in partnership with the ... Read the full article

Pen Underwriting consolidates portfolios in £550mn deal with Legal & General

10th May 2018

Pen Underwriting, a multi-territory managing general agent (MGA), has consolidated 15 UK household and SME portfolios into a five-year, £550 million, single quota share arrangement led by Legal & General. The creation of a single ‘master’ binder for Pen’s UK household and SME business will benefit both its customers and distribution ... Read the full article

Prudential & Legal & General conclude $800m longevity reinsurance deal

21st December 2017

The Prudential Retirement Insurance and Annuity Company (PRIAC), a Prudential Financial unit, has concluded a reinsurance agreement which will see it assume longevity risk for about $800 million in pension liabilities, which are held by Legal & General as part of its bulk annuity business. This transaction covers more than 2,000 ... Read the full article

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.