Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Annuities

New Ireland, Legal & General enter into partnership

By Michael K. Stanley

X
Your article was successfully shared with the contacts you provided.

New Ireland Assurance and Legal & General have entered into an exclusive partnership where Legal & General will reinsure €136 million of New Ireland’s current annuity business as well as a proportion of its business to be written in the future.

The London-based multinational financial services company will cover annuities purchased by individuals as well as bulk annuities purchased by pension schemes for New Ireland Assurance component of the Bank of Ireland Group that provides life, pensions and investment solutions to individual and corporate clients.

Annuity demand in the Irish market is strong with interest from both individuals and pension schemes and their corporate partners who are looking for insurance based de-risking. Legal & General, coming off a strong 2012 in the annuity market, is looking to continue growing and has chosen five drivers of growth, one of them being retirement solutions, both home and abroad. This deal is very much in line with their initiatives.

Pension funds looking to de-risk through annuities seems to be a trend that will be around for a while on both sides of the Atlantic. 

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.