Press release

Legal & General announces £35m buyout of US law firm’s UK pension scheme

Edwards Wildman Palmer LLP’s UK pension scheme agrees buyout.

11 Sept 2019

Two people shaking hands in black and white image

Legal & General Assurance Society Limited (“Legal & General”) today announces that it has agreed a c£35m buyout for the US owned law firm Edwards Wildman Palmer LLP’s UK pension scheme.

The scheme was an existing Legal & General Group client through its partnership with Legal & General Investment Management’s (LGIM) fiduciary management team. It is one of the first schemes to have moved to buyout by leveraging the combined solution that only the Legal & General Group can offer across its fiduciary management and buyout teams.

Julian Hobday, Director, Pension Risk Transfer, Legal & General Retirement Institutional: "This transaction is an example of our teams working seamlessly together to ensure that our customers can easily benefit from the full range of services we offer..."

Notes to editors

Established in 1836, L&G is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at HY24) of which c. 40% (c. £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.

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