Press releases

Legal & General Reinsurance awarded Life Transaction of the Year by Trading Risk Magazine

(Hamilton, Bermuda – 20 October 2020) – Legal & General Reinsurance (L&G Re) today announces its success at Trading Risk Magazine’s annual awards with a win in the Life Transaction of the Year category.

21 Oct 2020


Full press release

L&G Re’s Adverse Mortality Stop Loss cover, executed in December 2019, protects the reinsurer’s US portfolio of mortality business against a global pandemic and was developed working with brokers Aon Reinsurance Solutions (UK).


L&G Re’s innovative risk management approach resulted in the purchase of this protection against pandemics in the weeks leading up to the COVID-19 pandemic being declared.

Thomas Olunloyo, Chief Executive Officer of Legal & General Reinsurance: "We are delighted to have received this prestigious award, which recognizes that Legal & General Reinsurance is at the cutting edge of risk management. We will continue to innovate and find ways to deliver the best value and protection for our customers through our strong risk management and unique ability to protect our customers during a crisis.

Working with our partners Aon Reinsurance Solutions (UK), we were able to tailor a policy that enhances the protection we provide to our customers in the US in the event of a pandemic such as COVID-19"

Further information

Margrit

Margrit Williams

Director of External Engagement

Legal & General Capital

Notes to editors

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management1 of which 40% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.

1Data as at 31 December 2023.

Legal & General Reinsurance is the Bermuda-based global reinsurance hub of Legal & General, offering life and annuity reinsurance solutions.

Legal & General Reinsurance comprises three reinsurance companies (Legal & General Reinsurance Company Limited, Legal & General Reinsurance Company No.2 Limited, and Legal & General America Reinsurance Limited) bringing together Legal & General’s global reinsurance businesses as one operation in Bermuda. Currently we provide specialist life reinsurance solutions, focused on Pension Risk Transfer (PRT) business and internal reassurance to the wider Legal & General Group.

We strive to become a trusted partner of every company we work with, acting as an extension of their businesses and helping them realise additional value. Since 2014, Legal & General Reinsurance has written third party business in the Netherlands, Ireland and Canada in addition to internal business from the UK and US.