Press release

S&P upgrades Legal & General Reinsurance to ‘AA-’ to reflect core status; Outlook stable

Legal & General Reinsurance (L&G Re) announces today that ratings agency Standard & Poors (S&P) has upgraded its long-term financial strength rating from ‘A+’ to ‘AA-‘.

8 Feb 2021

Full press release

Hand checking charts and numbers in touch screen

Since L&G Re was formed in 2014, it has become an integral part of the Legal & General group's reinsurance strategy and S&P now considers L&G Re to be a core component of the group.

In 2019, L&G Re reported total profit and comprehensive income of £455 million on an IFRS basis versus the group's total profit after taxes of £1,810 million (about 25% of the group's total). In addition, L&G Re's equity accounted for about 14.5% of group shareholder's equity at year-end 2019.

L&G Re’s ratings upgrade by S&P aligns it with the ratings on the group’s other core operating entities. The stable outlook also parallels S&P’s outlook on the other members of the L&G group.

Further information

Margrit Williams

Director of External Engagement

Legal & General Capital

Email Margrit Williams

Notes to editors

Established in 1836, L&G is one of the UK's leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at FY24) of which c. 44% (c. £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

Related content

A collection of awards from the 14th Annual Business Quality Awards displayed on a table.

Press release

L&G announces winners of 14th Annual Business Quality Awards

L&G’s annual awards celebrate firms and networks who have delivered exceptional levels of customer service.

Press release

L&G’s Home Finance Business Launches Leading the Way Campaign

Campaign shines a light on the people working behind the scenes to support each equity release customer.

Couple and a dog talking and smiling with unpacked moving boxes

Press release

First-time buyer activity up 45% in Q1 2025, L&G data reveals

Data from L&G’s Ignite platform points to a significant increase in first-time buyer searches for mortgages, including a rise in older buyers looking to step onto the property ladder for the first time.