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Legal & General publishes latest wave of the Rebuilding Britain Index
The 9th Wave of Legal & General’s Rebuilding Britain Index (RBI) has shown a mixed picture of progress across its metrics, as well as between regions and income groups.
17 Aug 2023
Index shows progress on jobs and prosperity alongside challenges in health and housing
Since it was first published in early 2021, the RBI has demonstrated that access to better jobs, better housing, thriving communities, and strong economic prosperity are the key drivers of levelling up the country and improving people’s lives.
These drivers are underpinned by the need for people to be living in good health. Whilst the UK aggregated score on the RBI’s Health1 Index has remained flat since the last wave of the RBI, the overall score has fallen and inequalities have widened since 2021, with differences linked to income, region and age.
The latest RBI Report explores these changes and highlights the importance of a collaborative approach across stakeholders to create the conditions for better health for everyone. Broad investment in communities, including in housing and infrastructure, alongside measures to support wellbeing at work can help to reduce health inequalities and have strong support across the population.
Sir Nigel Wilson, Group CEO of Legal & General: “Joined-up action is vital to creating thriving, prosperous communities all over the UK. While there are some green shoots of progress, the latest tranche of data from our study underlines the long-term commitment and investment required to address the unequal distribution of wealth, opportunity, and even good health around the country.“Those we spoke to are right to propose a rounded approach. By investing in infrastructure, building quality homes, and supporting wellbeing in the workplace, we have a real opportunity to create the conditions for better health and all the benefits this brings.”
John Godfrey, Director of Levelling-Up at Legal & General: “We often talk about the role that Government plays in improving the lives of those living and working in the UK, but businesses also wield significant influence. There are very practical decisions that UK businesses can make that can have an immediate difference to the lives of many.“We know that many in the lower income brackets often lack access to workplace health benefits, receive low rates of statutory sick pay, and work unsociable hours – all things that drive them further from better health outcomes. If these approaches are adopted by employers more widely, independently or in collaboration with Government—as is being considered by the Treasury for those who may require support to take on health-related expenses—they can make a significant difference to those most in need.”
Further information
Hannah Ritchie
Senior PR Executive
Private Markets, Asset Management
T: +44 (0) 7904 404 439
Harriet de Beaufort-Suchlick
Head of Corporate Communications
Private Markets, Asset Management
T: 07717 533 079
References
1The overall RBI Health metric is a composite measure of access to high quality primary, secondary and tertiary care; self-reported health; and life expectancy.
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.