L&G makes £64m loss on Cofunds sale but retirement business booming

James Phillips
clock • 2 min read

Legal & General (L&G) has confirmed the sale of its investment platform Cofunds to Aegon led to a £64m impairment loss.

The £140m deal was announced in August last year, with the sale completing in January and making Aegon the UK's biggest platform provider. Nevertheless, the provider booked overall profits of £1...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Industry

Why member communications must be strategic

Why member communications must be strategic

Vidett’s Suzi Lowther says the trustees are starting to consider using wider comms methods and formats

Suzi Lowther
clock 22 April 2024 • 3 min read
DWP 'remains committed' to AE expansion in 'mid-2020s'

DWP 'remains committed' to AE expansion in 'mid-2020s'

Industry fears reforms will now be pushed back until later this decade

Holly Roach
clock 22 April 2024 • 2 min read
PPF-run consolidator 'much needed', lifeboat fund says

PPF-run consolidator 'much needed', lifeboat fund says

PPF responds to government’s consultation proposals

Holly Roach
clock 19 April 2024 • 2 min read
Trustpilot