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Legal & General Reinsurance awarded Life Transaction of the Year by Trading Risk Magazine
(Hamilton, Bermuda – 20 October 2020) – Legal & General Reinsurance (L&G Re) today announces its success at Trading Risk Magazine’s annual awards with a win in the Life Transaction of the Year category.
21 Oct 2020
L&G Re’s Adverse Mortality Stop Loss cover, executed in December 2019, protects the reinsurer’s US portfolio of mortality business against a global pandemic and was developed working with brokers Aon Reinsurance Solutions (UK).
L&G Re’s innovative risk management approach resulted in the purchase of this protection against pandemics in the weeks leading up to the COVID-19 pandemic being declared.
Thomas Olunloyo, Chief Executive Officer of Legal & General Reinsurance: "We are delighted to have received this prestigious award, which recognizes that Legal & General Reinsurance is at the cutting edge of risk management. We will continue to innovate and find ways to deliver the best value and protection for our customers through our strong risk management and unique ability to protect our customers during a crisis.Working with our partners Aon Reinsurance Solutions (UK), we were able to tailor a policy that enhances the protection we provide to our customers in the US in the event of a pandemic such as COVID-19"
Further information
Margrit Williams
Director of External Engagement
Legal & General Capital
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 Reinsurance is the Bermuda-based global reinsurance hub of Legal & General, offering life and annuity reinsurance solutions.
Legal & General Reinsurance comprises three reinsurance companies (Legal & General Reinsurance Company Limited, Legal & General Reinsurance Company No.2 Limited, and Legal & General America Reinsurance Limited) bringing together Legal & General’s global reinsurance businesses as one operation in Bermuda. Currently we provide specialist life reinsurance solutions, focused on Pension Risk Transfer (PRT) business and internal reassurance to the wider Legal & General Group.
We strive to become a trusted partner of every company we work with, acting as an extension of their businesses and helping them realise additional value. Since 2014, Legal & General Reinsurance has written third party business in the Netherlands, Ireland and Canada in addition to internal business from the UK and US.