In 2012, the group welcomed its first retired customers into the government`s new automotive membership program and launched Skyman, a digital app that highlights the importance of insurance. In 2013, the company acquired 46.5% of British housing company CALA Homes. In 2017, the firm increased its U.S. assets to $189 billion, expanded its U.S. pension risk transfer business, and enhanced the digital capabilities of its U.S. insurance business. In 2019, following earlier speculation,[29][30] the company agreed to sell its General Insurance Legal & General Insurance division to Allianz Insurance, while acquiring the remaining 51% stake in Liverpool Victoria General Insurance (LV=), of which it already held 49%. [3] The acquisition became effective on January 1, 2020, when the holding company was renamed Legal & General Insurance to Fairmead Insurance. [31] The existing policies will be merged into the insurance subsidiary Allianz LV= as part of an expanded business. Legal & General`s Birmingham office became an LV= location. [32] In the 1970s and early 1980s, Ron Peet (1925-2020), a socially responsible actuary, was CEO of Legal & General, having led the Australian company. [36] Peet helped campaign for thalidomide`s children, Legal & General then owned a large block of shares (3.5 million) in the Scottish beverage and pharmaceutical company Distillers.
[37] [38] The company became a wholly owned division of Legal & General Group plc in the 1970s. [7] Legal & General Group, founded Legal & General America as a holding company in 1981 and purchased the Government Employees Life Insurance Company (GELICO) and its subsidiary in New York. The GELICO name was changed to Banner in 1983. William Penn was purchased by Legal & General Group Plc in 1989 as a wholly owned subsidiary of Banner Life Insurance Company. She bought the Dutch branch of Different Assurance Group and also opened a store in France in the 1980s. [7] Legal & General Group PLC operates in four main business segments: pensions, investment management, investment and insurance. The pension industry provides a guaranteed retirement income to members of the company`s pension plan. The investment management industry provides investment management services to individuals and corporations, including pension fund management. The investments use clients` pension assets as well as the Group`s shareholder capital to make long-term investments in assets such as clean energy, housing and SME financing. The insurance industry offers different types of insurance, including life and disability insurance.
The company has a global presence, but most of its assets under management come from the UK and Europe. PitchBook`s non-financial metrics help you measure a company`s traction and growth through its web presence and social reach. Legal & General Group Plc (Legal & General) is a provider of insurance, savings and investment products. The Group offers individual and group protection plans, pension plans, annuities, mortgages and general insurance products. It offers life, home, building, real estate, automobile and mortgage insurance products. It also offers travel, pet, critical illness, life, pension, retirement, investment and savings products. In addition, Legal & General offers claims management services, mortgage advice and risk management solutions. The group serves individuals, families and businesses. It operates in the United Kingdom, the United States, Japan, Ireland, Hong Kong and Bermuda. Legal & General is headquartered in London, UK.
In 2008, Legal & General bought Suffolk Life, a provider of self-invested pension products[19], sold Suffolk Life in 2016 and also outsourced its IT development activities to TCS (Tata Consultancy Services). [20] The company formed a joint venture with two Indian public sector banks, Bank of Baroda and Andhra Bank, to establish IndiaFirst Life Insurance Company in India in 2009[21] and outsourced certain IT activities to IBM in October 2010. [22] In 2013, the company bought Lucida Life, a pension buyout company, for £151 million. [23] The former Legal & General logo includes the image of Temple Bar (still used in the logo of the company`s social and sports committee) and the date of incorporation.