Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Legal & General Plc
  6. News
  7. Summary
    LGEN   GB0005603997

LEGAL & GENERAL PLC

(LGEN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Legal & General : announces cú17m bulk annuity with John Good & Sons Limited Pension Scheme

06/10/2021 | 03:56am EDT

10 Jun 2021

Legal & General Assurance Society Limited ('Legal & General') today announces that it has agreed a c£17 million full scheme buy-in transaction with John Good & Sons Limited Pension Scheme ('the Scheme'), covering the benefits for over 80 pension scheme members.

The Scheme is an existing Legal & General client, with the Trustee having appointed Legal & General Investment Management ('LGIM') as its fund manager in 2003.

Transaction preparation was an important part of the process for the Scheme which involved thorough data cleansing and de-risking of the Scheme's assets into LGIM's Buyout Aware funds. These funds are specifically designed for schemes approaching buyout, with an investment strategy which aligns with factors that affect buyout pricing.

When market conditions moved favourably, the Scheme reacted quickly to enter a price lock to its LGIM Buyout Aware fund units. This process ensured that the Scheme had the price certainty it needed to then agree the terms of the buy-in and complete the transaction.

The Trustee was advised on the transaction by XPS Pensions Group, with legal advice provided by Arc Pensions Law.

This transaction is a great demonstration of the value which can be realised by using Legal & General's group-wide expertise. We are delighted to have helped a long-standing client on their de-risking journey and look forward to continuing to build on this relationship as the scheme progresses to buyout.

Adrian Somerfield, Director, Legal & General Retirement Institutional

For further information, please contact:

Disclaimer

Legal & General Group plc published this content on 10 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2021 07:55:01 UTC.


ę Publicnow 2021
All news about LEGAL & GENERAL PLC
07:30aLEGAL & GENERAL : profits over ú1bn in a return to pre-covid levels
AQ
05:36aLEGAL & GENERAL : Half year results 2021
PU
05:21aLEGAL & GENERAL : Interim Profit Exceeds $1 Billion on Strong Alternative Asset ..
MT
04:11aLEGAL & GENERAL : L&G and Natwest to build green retirement homes in $500m joint..
AQ
02:27aLegal & General Says 1st Half Performance Was Ahead of Pre-Pandemic Levels; O..
DJ
02:25aLEGAL & GENERAL : Boosts Interim Dividend as H1 Profit Soars 4x
MT
02:10aLEGAL & GENERAL : Earnings Flash (LGEN.L) LEGAL & GENERAL GROUP Reports H1 EPS G..
MT
02:10aLEGAL & GENERAL : Earnings Flash (LGEN.L) LEGAL & GENERAL GROUP Reports H1 Reven..
MT
02:06aH1 2021 RESULTS : Strong financial performance – 14% growth in operating p..
PU
02:06aLEGAL & GENERAL : Earnings Flash (LGEN.L) LEGAL & GENERAL GROUP Reports H1 EPS G..
MT
More news
Financials
Sales 2021 56 403 M 78 366 M 78 366 M
Net income 2021 1 951 M 2 711 M 2 711 M
Net cash 2021 1 697 M 2 358 M 2 358 M
P/E ratio 2021 7,77x
Yield 2021 6,69%
Capitalization 16 112 M 22 399 M 22 387 M
EV / Sales 2021 0,26x
EV / Sales 2022 0,21x
Nbr of Employees 10 099
Free-Float 97,3%
Chart LEGAL & GENERAL PLC
Duration : Period :
Legal & General Plc Technical Analysis Chart | LGEN | GB0005603997 | MarketScreener
Technical analysis trends LEGAL & GENERAL PLC
Short TermMid-TermLong Term
TrendsNeutralBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 2,72 GBX
Average target price 312,80 GBX
Spread / Average Target 11 421%
EPS Revisions
Managers and Directors
Nigel David Wilson Group Chief Executive Officer & Executive Director
Jeff Davies Group Chief Financial Officer & Executive Director
John Kingman Chairman
Lesley Mary Samuel Knox Independent Non-Executive Director
Philip Arthur John Broadley Senior Independent Director
Sector and Competitors
1st jan.Capi. (M$)
LEGAL & GENERAL PLC-0.90%21 754
THE BLACKSTONE GROUP INC.77.69%82 970
KKR & CO. INC.60.04%37 699
AMUNDI20.28%19 279
THE CARLYLE GROUP INC.52.32%16 975
FRANKLIN RESOURCES, INC.22.89%15 488