Legal & General’s protection offering now available to HSBC UK customers. Updates to HSBC UK Wealth panel available from 26th April 2023.
1 Jun 2023
Legal & General is now working with HSBC UK to offer its Life and Critical Illness proposition to HSBC UK customers.
This gives HSBC UK Wealth clients access to Legal & General’s intermediary product suite consisting of Life Insurance, Critical Illness, Family and Mortgage Protection.
The inclusion of Legal & General comes following a review of panel providers and comprehensive assessment by HSBC UK.
Jonathan Saggers, Head of Customer Journey – Protect, HSBC UK: “We’re delighted to add Legal and General’s protection products to HSBC UK’s Wealth Panel, increasing the breadth of support we can offer our customers. It was the combination of competitive customer pricing and the investment L&G have made in their underwriting capabilities to enhance the adviser and customer experience that stood out for us.”
Claire Beardmore, Partnerships Director, Legal & General: “We are very excited to join HSBC UK’s Wealth’s protection panel and to be able to support HSBC UK in providing competitively priced life and critical illness cover to their customers. Customers need to have an opportunity to consider what cover they may need & to ensure their families are protected. We are very pleased to have our products available for HSBC UK advisers to offer.”
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 helps create brighter financial futures for all our customers. The division covers the savings, protection and retirement needs of our c.13 million retail policyholders and workplace members.
In 2022, we had total individual annuity sales of £954 million, and issued £632 million of Lifetime Mortgages and Retirement Interest Only Mortgages. Our Workplace pension platform served 4.9 million members, while our Protection businesses gave peace of mind to more than 6.3 million UK life insurance, 1.8 million group and 1.5 million US customers, taking in £3.1 billion of gross written premiums.
*at 31 Dec 2022