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

clock

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...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Milliken Industrials scheme secures £44m buy-in with Royal London

Milliken Industrials scheme secures £44m buy-in with Royal London

Transaction secures the benefits of 500 scheme members

Holly Roach
clock 27 June 2025 • 2 min read
Baker Hughes schemes complete buy-in deals worth £900m with PIC

Baker Hughes schemes complete buy-in deals worth £900m with PIC

Three deals secure the benefits of 3,000 pensioners and dependants and nearly 4,000 deferred members

Holly Roach
clock 26 June 2025 • 2 min read
Just Group completes two full-scheme buy-ins

Just Group completes two full-scheme buy-ins

Deal insures the benefits of 675 pensioners as well as 256 deferred members

Jonathan Stapleton
clock 23 June 2025 • 1 min read
Trustpilot