LONDON, March 26 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.
($1 = 0.6059 British Pounds)
(Reporting by Kate Holton; Editing by Mark Potter)