L&G set to return PRT capital to shareholders as result of low strain in 2024

Insurer estimated to write £8.4bn of PRT deals in 2024 as part of target of £50-65bn by 2028

Jonathan Stapleton
clock • 3 min read
L&G group chief executive António Simões
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L&G group chief executive António Simões

Legal & General (L&G) is set to return a proportion of the capital it had allocated to pension risk transfer (PRT) business in 2024 after a largely gilts-based investment strategy led to it investing less than expected in this area of business during the year.

In a presentation to investors this morning, L&G said it has written £7.9bn of UK PRT deals so far in 2024 – with a further £500m expected to close this year. Deals the firm has completed this y...

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