Investor news

Legal & General and Skipton Building Society announce general insurance partnership

Mark Holweger

Mark HolwegerLegal & General and Skipton Building Society have today announced a 5 year general insurance distribution agreement. Skipton Building Society customers will be able to purchase Legal & General buildings and contents insurance online, on the phone, or through a branch. The general insurance distribution agreement was signed in September 2016, with new business and renewals to begin shortly.

Mark Holweger, Managing Director, Legal & General Insurance Partnerships (photo, right) said: “It’s great news Skipton Building Society has chosen us as their general insurance partner, and I look forward to providing their customers with great value general insurance products and excellent customer service.”

Legal & General and Skipton Building Society plan to grow and expand the distribution partnership, by offering the general insurance product on aggregator sites under the Skipton brand, and by providing customers with the same pricing deal, whether they purchase their general insurance online, on the phone, or in a branch.

Kris Brewster, Skipton’s Head of Products, said:  “A property is more than bricks and mortar, it’s a home. And we’re always working to make sure our members can protect the things they love most. So after a thorough review of our home insurance offering, we’re delighted to be partnering with Legal & General. They’ve been insuring homes for over 90 years; and together with our 163 years of helping people save up for their dream home, we believe we’ve entered a great partnership.

Legal & General Insurance has distribution arrangements for general insurance and protection products with over 15 banks and building societies. Our product offering is award winning, and 5 star defaqto rated. In 2015 Legal & General Insurance wrote over £1.7 billion in total UK gross premiums, with its general insurance operating ratio at 89%.

Skipton is the UK’s fourth largest building society, with over 858,000 customers, £18.9bn of assets and a national presence represented by its network of 95 branches and 3 agencies. Skipton offers mortgages, savings and restricted financial advice. It heads the Skipton Building Society Group, whose subsidiary companies include Skipton International Limited and significant interests in estate agency and related businesses through the Connells group.

ENDS.


For more information please contact:

INVESTORS:

Laura Doyle, Head of Investor Relations
Tel: 020 3124 2088

Sujee Rajah  Investor Relations Manager
Tel: 020 3124 2047

MEDIA:

Richard King, Head of Group Corporate Communications    
Tel: 020 3124 2095

Alyson Bowcott  PR Manager        
Tel: 07764582574

Stacey Stothard, Senior Corporate Communications Manager, Skipton Building Society 
Tel: 01756 705839
 

 

Notes to editors:

Legal & General Group Plc:

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 £12.7bn (as at 19 September 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 who rely on us for life assurance. In 2015, Legal & General's operating profit (on the IFRS basis) was £1,455m and adjusted earnings per share were 18.58p for the period, an increase of 14% and 11% respectively.

For more information on Legal & General, please see http://www.legalandgeneralgroup.com/

 

Forward-looking statements

This announcement may contain certain forward-looking statements relating to Legal & General, its plans and its current goals and expectations relating to future financial condition, performance and results. By their nature, forward-looking statements involve uncertainty because they relate to future events and circumstances which are beyond Legal & General’s control, including, among others, UK domestic and global economic and business conditions, market related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory and Governmental authorities, the impact of competition, the timing impact of these events and other uncertainties of future acquisition or combinations within relevant industries. As a result, Legal & General’s actual future condition, performance and results may differ materially from the plans, goals and expectations set out in these forward-looking statements and persons reading this announcement should not place reliance on forward-looking statements. These forward-looking statements are made only as at the date on which such statements are made and Legal & General Group Plc does not undertake to update forward-looking statements contained in this announcement or any other forward-looking statement it may make.

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