Press releases

Legal & General announces appointment of another new Sales Director to the pension scheme insurance de-risking solutions team.

Tom Ground - Director, Bulk Purchase Annuities
Tom Ground
Director, Bulk Purchase Annuities

18 March 2013

Tom Ground - Director, Bulk Purchase Annuities
Tom Ground
Director, Bulk Purchase Annuities

Legal & General has appointed Mike Edwards as a Sales Director to join the existing strong pension scheme insurance de-risking solutions team, headed by Tom Ground.

Mike has over 9 years experience as a pensions consultant and joins Legal & General from KPMG where he advised companies on the design and implementation of pension de-risking solutions. This included advising on one of the first 'all risks' transactions to be completed in the market, as well as extensive experience of member options exercises.

Prior to KPMG, Mike worked at Hewitt Associates advising both companies and trustees on pensions scheme management.

Tom Ground, Head of Business Development, for Legal & General's pension scheme insurance de-risking solutions business said: "Although bulk purchase annuity business can be 'lumpy' we believe that there will be continuing strong interest in pension scheme de-risking solutions during 2013. Rising gilt yields and improving equity returns in recent months have helped to improve the funding position for many pension schemes and this makes pension de-risking more affordable and more attractive.

We expect to see an increasing number of schemes considering their options, but they need to react quickly to ensure they don't miss out. Mike's experience and expertise in developing bespoke solutions for pension schemes involving insurance and other risk management tools will help trustees and companies to understand the various de-risking solutions available to them.

Corporates, trustees or advisers looking for further information on the pension scheme de-risking solutions available from Legal & General should call the pension scheme insurance de-risking solutions team on  020 3124 2994.

Notes to editors

Background on Legal & General

Legal & General is one of the UK's leading financial services companies and one of the UK's top 50 companies in the FTSE 100 Index. Legal & General has been an active participant in the insurance solution pension de-risking market for over 25 years and winner, along with Legal & General Investment Management (LGIM), of the PIPA award for Best De-Risking provider 2011 and was voted Buyout Firm of the Year at the European Pension Awards in June 2012.

Legal & General provides annuities to over 650,000 current pensioners and over 150,000 deferred pensioners.

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 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. Registered address: One Coleman Street,London EC2R 5AA. Registered in England No 166055.

For more information please contact:

Berni Ryan

Berni Ryan
PR Manager

t: +44 (0) 1737 375369
m: +44 (0) 7788 926790