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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Legal & General Plc    LGEN   GB0005603997

LEGAL & GENERAL PLC

(LGEN)
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Legal & General : Retirement America Surpasses $628 Million in Premiums for Q3 2020

10/15/2020 | 09:25am EST

15 Oct 2020

In its strongest Q3 to date, LGRA continues to meet the growing demand for PRT

Stamford, CT - October 15, 2020 - Legal & General Retirement America (LGRA) today announced it has exceeded $628 million in deals in Q3, bringing the total amount of premiums written to nearly $1 billion in 2020. From July to September, LGRA completed six transactions, securing coverage for over 8,500 participants.

The deals, which exclusively cover U.S. pension plans, range in size from approximately $67 million to $214 million and have resulted in Legal & General Retirement America's most successful Q3 to date. Across the industry, the U.S. pension risk transfer (PRT) market continues to see an appetite for de-risking, with an expectation that the market total will land around $25 billion by the end of this year.

Despite the challenges brought on by the global pandemic, LGRA continues to focus on providing a high level of support to companies that are looking to fulfill their commitment of helping to secure their employees' financial futures into retirement.

We're thrilled with our continued progress in helping clients through their de-risking journeys. Our
team's ability to maintain such an impressive level of customer service and to transact by pricing,
negotiating and finalizing deals in a remote environment has helped lead us to our strongest Q3 yet.
We're looking forward to continuing to support our existing clients along their journeys, in addition to
welcoming new ones as we move through another active quarter to round out the year.

George Palms, President, Legal & General Retirement America

For further information, please contact:

Nicole Levy Marketing & Brand Manager Legal & General Retirement America Tel: +1 240.357.0099 Email: nlevy@lgra.com

Disclaimer

Legal & General Group plc published this content on 15 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2020 13:24:02 UTC


© Publicnow 2020
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Financials
Sales 2020 8 207 M 10 973 M 10 973 M
Net income 2020 1 459 M 1 951 M 1 951 M
Net Debt 2020 4 027 M 5 384 M 5 384 M
P/E ratio 2020 10,0x
Yield 2020 6,80%
Capitalization 15 439 M 20 518 M 20 642 M
EV / Sales 2020 2,37x
EV / Sales 2021 0,53x
Nbr of Employees 8 542
Free-Float 97,2%
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 258,82 GBX
Last Close Price 260,10 GBX
Spread / Highest target 25,0%
Spread / Average Target -0,49%
Spread / Lowest Target -36,6%
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NameTitle
Nigel David Wilson Group Chief Executive Officer & Executive Director
John Kingman Chairman
Jeff Davies Group Chief Financial Officer & Executive Director
Julia Susan Wilson Senior Independent Non-Executive Director
Lesley Mary Samuel Knox Independent Non-Executive Director
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