Legal & General
Legal & General ties boardroom bonuses to expanded net-zero goals
Legal & General (L&G) has unveiled fresh interim climate commitments as part of a drive to net-zero portfolio emissions by 2050.
L&G sees flat profits but LDI and master trust use grow
Legal & General saw flat movements in operating profit over the course of 2020, and a fall in profit after tax, although its retirement and investment management businesses grew.
Deutsche Bank agrees £570m buy-in with L&G
Deutsche Bank AG has agreed a £570m pensioner buy-in with Legal & General for the defined benefit (DB) (UK) Pension Scheme.
Why LDI will continue for years to come
After a decade of de-risking, there is still more to do, particularly for those schemes late to the hedging party, writes James Phillips.
Carillion scheme agrees £150m PPF+ buyout with L&G
The Mowlem (1993) Pension Scheme has secured the benefits of around 1,000 members in a buyout with Legal & General (L&G) offering income above compensation levels.
L&G agrees £400m deal with own scheme
The Legal & General (L&G) Group UK Senior Pension Scheme has agreed an assured payment policy (APP) deal with its insurer sponsor.
Evonik scheme completes £544m full buy-in with L&G
The defined benefit (DB) scheme of Evonik Holdings UK has agreed a £544m full buy-in with Legal & General (L&G) Assurance Society.
Marie Curie completes £30m buy-in with L&G in first 2021 deal
The Marie Curie defined benefit (DB) scheme has entered into a circa £30m full scheme buy-in agreement with Legal & General (L&G) Assurance Society.
MetLife reinsures $2bn of Legal & General pension risk
Metropolitan Tower Life Insurance Company has announced it completed four longevity reinsurance transactions with Legal & General (L&G) Assurance Society last year.
Maersk agrees £1.1bn buy-in with L&G
The Maersk Retirement Benefit Scheme has agreed a £1.1bn buy-in with Legal & General (L&G) Assurance Society, protecting benefits for around 4,900 members.
Northern Gas Networks agrees £385m buy-in with L&G; Risk transfer market busy despite Covid and set to top £60bn in 2021
The Northern Gas Networks Pension Scheme has agreed a £385m pensioner buy-in with Legal & General (L&G).
L&G to halve emission intensity of £81bn annuity book by 2030
Legal and General Retirement (LGR) has committed to cutting the carbon emission intensity of its annuity book by half by 2030, while the overall group targets a net-zero portfolio by 2050.
BHS Senior Management Scheme completes PPF+ buy-in with L&G
The BHS Senior Management Scheme has agreed a £2.5m buy-in with Legal & General (L&G) Assurance Society, securing benefits outside of the Pension Protection Fund (PPF).
What Covid-19 means for longevity and bulk annuities
Darryl Brundle and Ashley Kanter look at the contrasting pressures and easements on longevity associated with the pandemic
UPDATED Independent governance committees: A list of who is sitting on which IGCs
PP looks at the pensions great and good who oversee contract-based schemes
Hymans Robertson joins with L&G to cut scheme carbon footprint by a third
Hymans Robertson has cut the carbon footprint of its pension plan by around 33% while delivering lower charges by launching a fresh default investment strategy.
Five stories you may have missed this week
This week’s top stories include the Universities Superannuation Scheme’s announcement of a delay to its valuation for 2020, while the government consulted on a proposal to force the largest schemes to publish their climate risk disclosures.
Siemens completes £530m buy-in with L&G
The Siemens Benefits Scheme has agreed a £530m buy-in with Legal & General (L&G), insuring the benefits of more than 2,300 pensioner members.
ICI secures £70m of benefits in ninth buy-in with L&G
The ICI Pension Fund has completed its ninth buy-in with Legal & General (L&G), insuring a further £70m of benefits and bringing total insured benefits with L&G to around £5.8bn.
Countrywide Farmers scheme completes £100m PPF+ buy-in with L&G
The Countrywide Farmers Retirement Benefits has secured a £100m buy-in with Legal & General, insuring members’ benefits above Pension Protection Fund (PPF) compensation levels.
Using pension risk transfer to plug the UK's £1trn infrastructure gap
The money used to insure pension liabilities can help met the government’s agenda to ‘build, build, build’, says Johnny Chow
Joanne Segars: Working for a common vision
Collaboration is key to delivering on LGPS Central’s mission to prove the pooling concept, Joanne Segars tells James Phillips.
The real deal? Buy-in and buyout pricing during Covid-19
Chris DeMarco explains why the Covid-19 has increased opportunities for schemes to de-risk via bulk annuities.
L&G agrees £650m buy-in with 3i scheme
The 3i Group Pension Plan has agreed a £650m buy-in with Legal & General (L&G), insuring the remaining benefits within the scheme.
