L&G secures 3 bln stg annuity deal with ICI
LONDON, March 26
LONDON, March 26 (Reuters) - British life insurance and pensions provider Legal & General Group Plc said on Wednesday it had won a 3 billion pound ($5 billion) bulk annuity contract with the ICI Pension Fund.
L&G said the 3 billion pound premium from the transaction would increase its stock of annuity assets, which stood at 34.4 billion pounds at the end of last year.
The news comes just a week after the government announced fundamental reforms to the pensions market.
- French warplanes search Mali desert for crashed Air Algerie plane |
- At least 15 killed by shelling of Gaza school; toll exceeds 760 |
- Exclusive: Ukraine rebel commander acknowledges fighters had BUK missile
- U.S. House panel votes to authorize lawsuit against Obama
- Lawyers call for outside probe of 'bungled' Arizona execution |