L&G acquires closed annuity firm in £151m deal

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Legal & General Assurance Society has acquired closed UK annuity buy-out company Lucida from LCM Holdings in a deal worth £151m.

The deal, which is subject to Financial Conduct Authority and Prudential Regulation Authority approval, is expected to complete in the third quarter, L&G said. Lucida was founded in 2006 to focu...

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