Legal & General News

UK’s Legal & General Partners with Amazon to Create Blockchain System for Pensions

British insurer Legal & General has teamed up with Amazon to establish what it said is the first blockchain system for corporate pension deals. The insurer said it would use a managed blockchain system launched by Amazon Web Services (AWS) …

Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters

Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case Britain does not have …

UK’s Legal & General Chooses Dublin as Post-Brexit Base for Some Operations

British insurer Legal & General said it will move some of its investment management operations to Ireland to ensure it can continue to serve its customers after Brexit. In a win for Dublin’s campaign to attract financial services firms in …

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 …

EU Solvency II Rules Need ‘Tweaks,’ Not Overhaul: Bank of England

EU capital rules for insurers need some tweaks but are not a deterrent to investment in infrastructure as some insurers’ claim, the Bank of England said on Wednesday. Officials from Aviva and Legal & General, two of Britain’s biggest insurers …

Insurer & Investor Group Urges G20 to Scrap Fossil Fuel Subsidies by 2020

Investors and insurers with more than $2.8 trillion in assets under management on Wednesday called on the Group of 20 economies to phase out fossil fuel subsidies by 2020 despite U.S. doubts about climate change. G20 nations should work “to …

UK’s Legal & General Plans to Disclose CEO-to-Employee Pay Ratio: Source

Insurer Legal & General Group Plc plans to disclose how much more its chief executive earns than rank-and-file employees, becoming one of the first big U.K. companies to respond to growing concern about wage inequality with greater openness about pay. …

Britain’s Vote to Leave EU Hikes Concerns over UK Insurers’ Capital Strength

Market falls triggered by Britain’s vote to leave the European Union will hit British insurers’ capital, raising concerns over their ability to pay dividends or hand cash back to investors. New European capital Solvency II rules introduced in January require …

Swiss Re and UK’s Legal & General Weigh Bids for Deutsche Bank’s Abbey Life

Swiss Re AG and Britain’s Legal & General Group Plc are among firms considering bids for Deutsche Bank AG’s insurance business Abbey Life Assurance Co., according to people with knowledge of their plans. Deutsche Bank is seeking bids by the …

Europe’s Insurers Turn to Risky Property Investments, in Hunt for Better Returns

Traditionally conservative European insurers and pension funds are turning increasingly to risky property bets on everything from new homes in provincial Britain to car parks at Brussels airport, as they feel the pinch from rock-bottom interest rates. While much is …