Press release

Fitch Ratings upgrades Legal & General Reinsurance’s Insurer Financial Strength to ‘AA-’

Legal & General Reinsurance (L&G Re) announces today that Fitch Ratings has upgraded its Insurer Financial Strength from ‘A+’ to ‘AA-‘.

8 Oct 2020

Full Press Release

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AA ratings suggest a very low expectation of ceased or interrupted payments, and they indicate very strong capacity to meet policyholder and contractual obligations. This capacity is not especially vulnerable to foreseeable events.

Following substantial growth of L&G Re’s internal and external reinsurance business volumes, and its value to L&G in capital management terms, L&G Re’s strategic importance has also been upgraded from ‘Very Important’ to ‘Core’.

Fitch ranks Legal & General’s business profile as favourable compared with other life insurance companies in the UK. The rating also confirms the Group’s strong business profile, financial performance, investment and asset risk strategy and earnings from products in the overseas markets.

Further information

Margrit Williams

Director of External Engagement

Legal & General Capital

Email Margrit Williams

Notes to editors

Established in 1836, L&G is one of the UK's leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at FY24) of which c. 44% (c. £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.