Legal & General Retirement America surpasses $1 billion in premiums for 2019
Legal & General Retirement America announced it has exceeded $1 billion in deals transacted in 2019. Serving the US market since 2015, the Stamford, CT-based business has wrote over $3.5 billion in total US volume (2015: $450 million; 2016: $448 million; 2017: $713 million; 2018: $844 million, 2019 YTD: $1,068 million). Globally, the firm has written over 3,500 PRT transactions, supporting over one million annuitants each year with an annuity portfolio that exceeds $80 billion.
“We’re thrilled with our progress over the past year as we continue to live up to our guiding principle of ‘investing for good’. We exist to help companies ensure that they can honour the financial commitments made to employees through defined benefit plans – it’s our job and our mission to help our clients offer peace of mind to their employees.” – George Palms, president of LGRA.
“We couldn’t be more pleased to see the continued growth and success of our US PRT business as we work to ensure plan participants are financially secure heading into retirement. Pensions are a key component of a society’s ability to support its retired populations, and LGRA has emerged as a leader in this space, making tangible strides in closing retirement gaps and supporting true financial inclusion.” – Nigel Wilson, CEO of Legal & General Group.
“We remain focused on developing innovative solutions to meet the ever-changing needs in the US pension market. We look forward to continuing our mission of using our global strength and flexibility to ensure a financially secure retirement for our participants and a better future for our communities.” – Kim Rosenberg, head of distribution and retirement solutions at LGRA.