View more on these topics

L&G forms trans-Atlantic insurance division

Globe Global World Apple 440

Legal & General has formed a new trans-Atlantic insurance division to bridge its UK and US offerings.

Legal & General Insurance will be led by Bernie Hickman, who became L&G Home Finance chief executive and Individual Retirement managing director in 2014 and has held roles at the company including UK Protection managing director, group financial controller, and investor relations director.

Legal & General Insurance will offer life insurance, critical illness cover and income protection across the UK and US. L&G wants to grow the US business so it offers multiple products and uses technology in a similar way to the UK business.

Group chief executive Nigel Wilson says: “Bernie is a proven successful leader. Legal & General has two large successful international businesses, Legal & General Investment Management, and Legal & General Retirement. We are now developing our third international business, our insurance business.”

Hickman adds: “Technology is playing an ever-increasing role in all areas of the UK and US insurance markets, with digital marketing and straight-through processing becoming ever more important. It’s therefore a great opportunity and an exciting time to combine our UK and US expertise, technology and insights, to grow our existing businesses and establish new, digital insurance businesses in selected international markets.”

Legal & General America has more than one million life insurance customers, and $1.2bn (£968m) of gross written premium.

Recommended

Business-General-Handshake-Hire-Appointment-700x450.jpg

Aviva’s Halley joins Wren Sterling as new chief executive

Aviva’s Ian Halley has joined national IFA Wren Sterling as its new chief executive. Wren Sterling, formerly known as Towergate Financial, separated from Towergate 18 months ago after a management buyout. At Aviva, Halley was in charge of the insurer’s investments in IFA’s, networks and distribution businesses. He has also worked at Prudential, Friends Life, […]

9

MPs call on Govt to scrap triple lock

The state pension triple lock should be dropped, the work and pensions select committee of MPs has argued. Announcing the results of its inquiry into inter-generational fairness, the committee said that while the triple lock – which has uprated the state pension by the highest of inflation, earnings or 2.5 per cent every year since […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Leave a comment