Press releases

Legal & General America Raises $940,000 for Charity through its Annual Charitable Giving Campaign

Legal & General America (LGA) has raised $940,000 through its Annual Charitable Giving Campaign.

20 Jan 2020

A portion of the funds raised will be donated to Student Homelessness Initiative Partnership (SHIP) of Frederick County, as well as hundreds of others chosen by LGA employees. The campaign kicked off on Oct. 21, 2019, and ran through Nov. 8, 2019.

As part of its annual campaign, LGA employees raised $470,000 with the help of local community members. Employees were able to pledge to a charity of their choice, while in-house fundraising events benefited SHIP. LGA matched the amount raised by employees bringing the total to $940,000.

In school year 2018-19, homeless students were found in 61 out of the 66 schools in the Frederick County School System (FCPS). This issue cuts across all grades, all ethnicities and the numbers continue to grow each school year. The Frederick County community came together in late 2013 after learning that there are literally hundreds of children within FCPS that are encountering homelessness each year. SHIP has taken the initiative as a community and has partnered with individuals, organizations, human service agencies, businesses, and government to advocate and provide for these forgotten and often-overlooked children.

President & CEO of LGA’s Insurance Division Mark Holweger: "Our employees’ commitment to charities of their choice and the Frederick County community is absolutely astounding. Our Frederick office is home to approximately 600 employees, on-site and remote, who are responsible for raising nearly half a million dollars in just a few weeks.

We are excited to support such a deserving charity like SHIP."

Ed Hinde, Executive Director of SHIP: "At the conclusion of school year 2018-19, there were 853 students enrolled in FCPS schools who had experienced homelessness sometime during that school year. What’s most worrying is the significant increase in unaccompanied homeless youth, those no longer under the direct care of a parent or legal guardian.

With the funds raised through the efforts of LGA employees, SHIP is able to provide food, clothing, shelter and counseling services for these children. We are eternally grateful."

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.

LGIA is one of the nation’s strongest life insurers, and number three in term life insurance sales in the United States (LIMRA Q2 2023 report). LGA’s insurance products are sold nationwide through its companies Banner Life Insurance Company in 49 states and D.C. and William Penn Life Insurance Company of New York in New York. LGA has an A.M. Best rating of A+ (Superior) – 2nd highest out of 15 categories and AA- from Standard & Poor’s (Very Strong capacity to meet financial commitments). Ratings are as of November 3, 2022, and apply to Legal & General America Group and its subsidiaries Banner Life Insurance Company and William Penn Life Insurance Company of New York. All ratings are subject to change.

*as at December 2023