Andrew Kail has taken over (4 March) as Chief Executive Officer of Legal & General Retail Retirement (LGRR), replacing Chris Knight, who is moving into the role of Legal & General Group Chief Risk Officer.
4 Mar 2021
Andrew Kail joins LGRR from PricewaterhouseCoopers (PwC) where he spent 30 years in a wide variety of roles including, most recently, as the Head of Financial Services, where he led a 6,000 strong team in asset & wealth management, banking, insurance, and real estate. Andrew brings a breadth of experience working within the financial services industry in areas including audit, strategy, regulation and technology.
Andrew is exceptionally well-placed to lead the division in its mission to provide the best retirement solutions to customers, across its retirement income, workplace savings, personal investment, lifetime mortgages and care solutions businesses. Andrew’s ambition is to take the L&G retirement proposition from its already strong market leading position to become the number one UK retirement business, engaging with our customers and helping them to have a colourful retirement. Andrew and the team will also explore international growth opportunities, following the division’s investment in Australian lifetime mortgage business Household Capital in 2020.
His appointment comes after a positive start to the year for LGRR, with the announcement of its pension tracing & consolidation service, and the launch of the Care Concierge Service, helping people understand, find and fund later life care.
Andrew will also support the wider Group’s strategy of inclusive capitalism. In particular, he will play a role in the Group’s work to meet the climate challenge, and the social inequalities arising from our ageing society; working to improve the lives of our customers whilst also building a better society for the long term and creating value for our shareholders.
Andrew Kail, Chief Executive Officer, Legal & General Retail Retirement: "I am really excited to be joining Legal & General Retail Retirement. We know that the coming years will present a challenging and increasingly complicated landscape for people approaching, and in retirement. I believe LGRR’s breadth of solutions and services is uniquely suited to helping customers make better decisions and in turn, get better outcomes. I am looking forward to leading an outstanding team of professionals who are committed to developing our business through providing our excellent service to our customers."
Nigel Wilson, CEO, Legal & General Group: "Legal & General’s top management team is a terrific asset to the company. Andrew knows us well, and we have huge respect for his sector knowledge, commercial acumen and leadership skills. I am delighted he has chosen to join Legal & General as we focus on helping people live happier, healthier and more connected lives in retirement."
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
Legal & General Retail Retirement’s mission is to help its customers lead longer, healthier, happier lives. We believe everyone should be able to have a ‘more colourful retirement’. The Division comprises the Group’s retirement savings and income, later life lending and care solutions businesses. In 2020, LGRR wrote £910 million of annuity premiums and issued £791 million of lifetime and retirement interest only mortgages.
*at 31 Jun 2021