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HSBC UK appoints Legal & General to its Wealth Panel
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.”
Further information
Koren Byrne-Hunte
PR Manager
Legal & General Retail
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 management (as at FY23) of which c40% (circa £0.5 trillion) is international.
We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.
As at 7 June 2024, we estimate the Group’s Solvency II coverage ratio to be 224%.
As at 11 June 2024, Legal & General has a market capitalisation of £14.6 billion.
Legal & General Retail helps create brighter financial futures for all our customers. The division covers the savings, protection and retirement needs of our c.14 million retail policyholders and workplace members.
In 2023, we had total individual annuity sales of £1,431 million, and issued £299 million of Lifetime Mortgages and Retirement Interest Only Mortgages. Our Workplace pension platform served 5.2 million members, while our Protection businesses gave peace of mind to several million direct, group and US customers, taking in £1,991 million of UK and $1,584 million of US gross written premiums.