We provide life insurance products to protect the families and lifestyles of around five million UK customers and over one million in the US. Our UK group protection business provides insurance cover for around two million corporate employees.
In the UK we’re the market leader in retail life insurance, achieved through a multi distribution strategy, scale, underwriting and reassurance capabilities and a strong focus upon technology to deliver excellence in service.
We want to leverage the expertise that has made us the UK’s No 1 life insurer and apply that expertise to build a direct-to-consumer business that complements the already successful US broker term life business.
We are primarily UK focused but our strategic intention is to expand our US operations.
Chief Executive Officer:
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Percentage of divisional profit: Legal & General Insurance represent 17% of group divisional operating profit
Scale of operations: We remain the largest provider of retail protection in the UK and a top 10 player in the US term life market. Legal & General Insurance’s gross written premiums (GWP) grew by 9% in 2016, driven by further growth in the UK retail protection business plus favourable foreign exchange translation effects in the US. In the UK, our direct distribution channel delivered Retail Protection new business growth of 7%.