Press releases

Legal & General Strengthens Pension Risk Transfer Team with Two Senior Appointments

Legal & General’s Pension Risk Transfer business has appointed Chris DeMarco as Managing Director of UK Pension Risk Transfer (PRT) and Costas Yiasoumi as Head of Core Business.

19 Jan 2017

Chris has moved internally from Legal & General Investment Management (LGIM) where he was Head of Institutional Client Management. He brings with him significant pensions and risk management expertise as well as leadership experience. His combination of technical and client skills will be a valuable addition to the team as we continue to guide pension schemes through their de-risking journeys. Prior to Legal & General, Chris held roles in the banking and consulting industries, most recently as a partner at Aon Hewitt.

Costas joins from Partnership Assurance where he led bulk annuities, with previous senior roles at Swiss Re, JP Morgan and Mercer. He brings a wealth of market knowledge and expertise, and his appointment further demonstrates Legal & General's commitment to the growing pension risk transfer market.

Kerrigan Procter, Managing Director of Legal & General said;

"I’m delighted to welcome Chris and Costas to the team at a time when trustees and sponsors of defined benefit schemes are increasingly focused on transferring their risk to insurers. After what’s been another strong year, I am confident that their expertise will result in many more market leading and innovative transactions being completed over the coming months and years.”

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.