News and insights

Legal & General completes third and final buyout with the Nortel Networks UK Pension Plan

Legal & General Assurance Society Limited (“Legal & General”) today announces that it has completed a c.£900 million buy-in with the ICI Pension Fund (“the Fund”), securing the benefits of over 7,000 retirees.

Legal & General £16 million buy-in with John Graham (Dromore) Limited Pension and Life Assurance Scheme

Legal & General Assurance Society Limited (“Legal & General”) has completed a c.£500 million buy-in with the DB (UK) Pension Scheme (“the Scheme”), securing the benefits of around 2,000 retirees and deferred members.

Legal & General Assurance Society Limited (“Legal & General”) today announces it has agreed a c.£340 million buy-in with the Cable and Wireless Superannuation Fund (“the Fund”), securing the benefits of around 1,800 retirees and deferred members.

Read our latest Q3 PRT monitor analysing the growing momentum in the US market

Download our half year 2024 PRT market update and latest client and customer service report

Download our research report

Download our full-year 2023 PRT market update and latest client service report.

We have published our latest Pension Risk Transfer (PRT) Monitor, analysing the growing momentum in the UK and US PRT markets.

We have published our latest Pension Risk Transfer (PRT) Monitor, analysing trends and dynamics in the UK and US PRT markets.

Download our half-year 2023 PRT market update and latest client service report.

View our latest Pension Risk Transfer (PRT) Monitor, analysing the growing momentum in the UK and US PRT markets.

This insurer-led Best Practice Guide aims to help pension schemes to prepare for a quotation and drive greater standardisation and efficiencies across the market.

We aim to put customers at the heart of everything we do, which is why we host regular events throughout the year, enabling customers to meet our team in person.

The complexities associated with a transaction of such size required collaboration across all parties and innovative solutions to meet the Trustee’s and Sponsor’s objectives.

In May 2023, we completed our fourth buy-in with the British Steel Pension Scheme as a final step to fully insuring the scheme. The transaction secured the remaining 40% of the liabilities bringing the total insured liabilities with L&G to c.£7.5 billion. In doing so, the scheme became the largest pension scheme in the UK to have secured full insurance

Aysha Patel, New Business Origination Lead at Legal & General, shares her top five trends that are set to shape the pension risk transfer industry in the new year and beyond.

Our CEO, Andrew Kail, recently returned to his hometown of Sheffield to explore how the power of pensions is helping to forge a bright future for the Steel City.

We are proud to be founding signatory to Accounting for Sustainability’s Charter released early in 2024.

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Our de-risking podcast that takes you under the umbrella at Legal & General to discuss the latest trends and market dynamics.

Investing for the future

Member events

Our multi-award-winning Client and Customer services team highlight how we put customers at the heart of everything we do.

Meet the team responsible for ensuring we deliver a great service to members. 

We’ve worked with defined benefit pension schemes for over 35 years. Providing income and security in retirement is a responsibility that drives everything we do. 

Our CEO, Andrew Kail, and Global Business Manager, Natalie Bentley, recently returned to their hometown of Sheffield to see our purpose of Inclusive Capitalism in action.

Together with Newcastle City Council and Newcastle University, we have invested in Newcastle Helix, providing office space and jobs for the local community. 

We are proud to be celebrating 35 years since our first Pension Risk Transfer transaction in 1987.