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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 : announces c£30 million bulk annuity with the Marie Curie defined benefit pension scheme

01/14/2021 | 04:04am EST

14 Jan 2021

Legal & General Assurance Society Limited ('Legal & General') today announces that it has agreed a c£30 million full scheme bulk annuity transaction with the Marie Curie defined benefit pension scheme ('the Scheme').

This transaction, agreed early in January 2021, secures the benefits of over 300 retirees and deferred pensioners.

The Scheme is an existing client of Legal & General Investment Management Limited ('LGIM'), which has managed a proportion of the Scheme's assets since 2010.

The Trustees were advised on the transaction by Aon and supported by Capita as administrators of the scheme. Legal advice was provided to the Trustees by Eversheds Sutherland and Sacker & Partners and to Legal & General by Clifford Chance.

I am pleased to announce our first pension risk transfer agreement of the new year, which will protect the benefits of over 300 members of the Marie Curie defined benefit pension scheme.

This transaction demonstrates the continued opportunity for pension schemes of all sizes to secure bulk annuity policies and deliver security for their members in these uncertain times.

2020 was a strong year for the pension risk transfer market and this transaction marks the start of another busy year ahead.

Rachel Cutts, Origination & Execution Director, Legal & General Retirement Institutional

For further information, please contact:

Disclaimer

Legal & General Group plc published this content on 14 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2021 09:03:01 UTC


© Publicnow 2021
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Financials
Sales 2020 32 991 M 45 963 M 45 963 M
Net income 2020 1 700 M 2 369 M 2 369 M
Net Debt 2020 1 149 M 1 600 M 1 600 M
P/E ratio 2020 8,94x
Yield 2020 6,82%
Capitalization 15 392 M 21 435 M 21 445 M
EV / Sales 2020 0,50x
EV / Sales 2021 0,40x
Nbr of Employees 8 542
Free-Float 97,4%
Chart LEGAL & GENERAL PLC
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Technical analysis trends LEGAL & GENERAL PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 284,28 GBX
Last Close Price 259,30 GBX
Spread / Highest target 46,5%
Spread / Average Target 9,63%
Spread / Lowest Target -36,4%
EPS Revisions
Managers and Directors
NameTitle
Nigel David Wilson Group Chief Executive Officer & Executive Director
Jeff Davies Group Chief Financial Officer & Executive Director
John Kingman Chairman
Julia Susan Wilson Senior Independent Non-Executive Director
Lesley Mary Samuel Knox Independent Non-Executive Director
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