19 January 2017
Legal & General’s Pension Risk Transfer business has appointed Chris DeMarco as Managing Director of UK Pension Risk Transfer (PRT) and Costas Yiasoumi as Head of Core Business.
Chris has moved internally from Legal & General Investment Management (LGIM) where he was Head of Institutional Client Management. He brings with him significant pensions and risk management expertise as well as leadership experience. His combination of technical and client skills will be a valuable addition to the team as we continue to guide pension schemes through their de-risking journeys. Prior to Legal & General, Chris held roles in the banking and consulting industries, most recently as a partner at Aon Hewitt.
Costas joins from Partnership Assurance where he led bulk annuities, with previous senior roles at Swiss Re, JP Morgan and Mercer. He brings a wealth of market knowledge and expertise, and his appointment further demonstrates Legal & General's commitment to the growing pension risk transfer market.
Kerrigan Procter, Managing Director of Legal & General said;
"I’m delighted to welcome Chris and Costas to the team at a time when trustees and sponsors of defined benefit schemes are increasingly focused on transferring their risk to insurers. After what’s been another strong year, I am confident that their expertise will result in many more market leading and innovative transactions being completed over the coming months and years.”
For further information (Journalists only)
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Background on Legal & General
Established in 1836, Legal & General is a leading provider of insurance, savings and investment management products in the UK. The Group has a market capitalisation of £14.5bn (as at 21 December 2016) and is responsible for investing £841.5bn worldwide (as at 30 June 2016) on behalf of investors, policyholders and shareholders.
Legal & General has over seven million customers in the UK for life assurance, pensions, investments and general insurance plans and over one million customers in the US.
Legal & General offers a range of de-risking solutions, which includes buyout, buy-in, longevity insurance and liability-driven investment (LDI), to pension schemes of all sizes. Legal & General is also able to tailor a combination of LDI and longevity insurance to provide "DIY buy-in" solutions. Legal & General has expertise in investment management, all aspects of defined benefit provision as well as an in-depth understanding of mortality trends and longevity risk. The services we provide include payroll, administration and communications services.
Corporates, trustees or advisers looking for further information on the pension scheme insurance de-risking solutions available from Legal & General should call the Pension Risk Transfer team on
020 3128 1149.
The information contained in this release is intended solely for journalists and should not be used by consumers to make financial decisions.
Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Legal & General Assurance Society Limited. Registered address: One Coleman Street, London EC2R 5AA. Registered in England No 166055.