Legal & General Group News

Allianz Expansion Plan Includes $1 Billion for UK Insurers

Allianz SE agreed to buy two insurance businesses in the U.K. in deals valued at a combined $1 billion, transforming the firm into the second-biggest general insurer in the country. The Munich-headquartered company agreed to acquire the general-insurance business of …

Swiss Re Purchases 1.1 Million Life Policies from Legal & General for $873.6M

Swiss Re has agreed to purchase 1.1 million life insurance policies from UK insurer Legal & General Group (L&G) for £650 million ($873.6 million). These policies will be managed by ReAssure, Swiss Re’s closed book life consolidator within the Swiss …

India’s Bank of Baroda Eyes Sale of Insurer, Asset Management Stakes

Bank of Baroda, India’s third-largest state-run bank by assets, is considering a sale of some of the minority stakes it holds in its insurance and asset-management ventures, according to people familiar with the matter. The Mumbai-based bank is seeking to …

Aegon, Transamerica Owner, Sells $4.4B UK Annuity Portfolio to Legal & General

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., divested the final 3 billion pounds ($4.4 billion) of annuities from its U.K. portfolio to Legal & General Group Plc. The transaction, which covers 27,000 policyholders, will release another 275 …

Group of UK Insurers Win BOE Approval for Solvency II Capital Requirements

Prudential Plc, Aviva Plc and Legal & General Group Plc are among large U.K. insurers to win Bank of England approval of the models they use to calculate capital requirements under the European Union law known as Solvency II. The …