L&G executes first European pension risk transfer

Risk1Legal & General (L&G) has entered the European pension risk transfer market, with an initial deal in Holland. Dutch insurer ASR Nederland NV is transferring €200 million of pension obligations to Legal & General Re, the firm’s global reinsurance arm, in cooperation with Hannover Re. Kerrigan Procter, managing director of Legal & General Retirement, says the pension risk transfer business has become a global business for Legal & General. “The potential market for pension risk transfer in the US, UK, and Europe is huge, and will play out over many decades,” he says. As well as entering the European market, Legal & General’s US arm recently entered into an agreement with US Royal Philips to provide retirement payments under a group annuity contract to about 14,000 retirees. Legal & General Re was established in 2014 as a reinsurance hub to grow the firm’s international pension risk transfer business. ©2015 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.