Press releases

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

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

Margrit Williams

Director of External Engagement

Legal & General Capital

Notes to editors

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management1 of which 40% 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.

1Data as at 31 December 2023.