In 2012, the group welcomed its first retired customers into the government`s new automotive membership program and launched Skyman, a digital app that highlights the importance of insurance. In 2013, the company acquired 46.5% of British housing company CALA Homes. In 2017, the firm increased its U.S. assets to $189 billion, expanded its U.S. pension risk transfer business, and enhanced the digital capabilities of its U.S. insurance business. Legal & General Retirement Institutional is the oldest active provider of mass pensions in the UK. We are the only insurer to have been active in the UK market since joining in 1987. Our annuity book stands at £89.9 billion as at 31 December 2021. Through our private and institutional retirement activities, we serve more than 1 million clients, more than 500,000 of whom are institutional clients whose pensions are guaranteed with us. LGRI invests with the support of Legal & General Investment Management Real Assets (LGIMRA), one of Europe`s largest institutional asset managers and a major global investor.
LGIMRA is one of the largest investors in BTR and has already invested £2.5 billion in twenty BTR projects across the UK, with 2,700 apartments already in operation and another 6,000 under construction. Founded in 1836, Legal & General is one of the UK`s leading financial services groups and a major global investor with international operations in the US, Europe, the Middle East and Asia. With nearly £1.3 trillion* in assets under management, we are the UK`s largest occupational pension investment manager and the UK`s leader in pension risk transfer, alternative asset origination, life insurance, occupational pensions and retirement income. Through inclusive capitalism, we want to build a better society by investing in long-term assets that benefit everyone. Dennis signed his first contract for the Routledge & Keegan Paul pension plan in January 1987, launching a Legal & General Bulk Annuity Business (PRT) that accepted £6.2 billion of transactions in the UK alone in 2021, in an industry that has agreed deals totalling nearly £30 billion in 2021. Since PRT`s inception in the UK, Legal & General has closed four of the 10 largest deals, while the annuity portfolio reached £89.9 billion at the end of 2021. Last year, Legal & General agreed a total of £7.2 billion in new premiums in 57 transactions worldwide. Legal & General is the UK`s oldest provider of continuous group annuities, unique to the PRT industry, having agreed to a PRT transaction every year in its 35-year history. By the end of 2021, it had secured the benefits of more than half a million people worldwide.
Legal & General currently has over £28 billion of direct investment across the group, through pension funds, in projects such as financing new transport, housing and offices, with a focus on activities that contribute to the regeneration of city centres across the UK. It has contributed to investments that create new jobs and housing for the local population. Examples include the renovation of Cardiff Central Square, which to date has created over 10,000 jobs for locals and generated a gross value of over £1 billion for the region, while Legal & General`s investment in Newcastle Helix`s Lumen and Spark buildings in partnership with Newcastle University and Newcastle City Council has created 1,000 new jobs at this time. day. In 2018, LGRI invested in the Hornsea Project, an offshore wind farm that is one of the largest in the world and can power more than 1 million homes. Provide investment solutions to pension funds and institutional clients in the areas of real estate, infrastructure and corporate lending. We work with businesses, pension funds and their advisors to help them obtain and protect their policyholders` pension benefits. In this way, we: Legal & General Retirement Institutional (“LGRI”), a division of Legal & General Group (“Legal & General”), today announce that it has set a target of investing £2.5 billion over the next five years of defined benefit pension funds () in build-to-rent (“BTR”) schemes that will create approximately 7,000+ new homes. Legal & General Retirement America (LGRA) specializes in tailored retirement risk solutions for institutional clients in the U.S.
market. Founded in 2015, Legal & General Retirement America is a business unit of Legal & General America, Urbana, MD. Legal & General America life and retirement insurance products are underwritten and issued by Banner Life Insurance Company, Urbana, MD and William Penn Life Insurance Company of New York, Valley Stream, NY. Banner products are sold in 49 states, the District of Columbia and Puerto Rico. William Penn products are sold exclusively in New York; Banner does not advertise to companies. Legal & General America is part of the global Legal & General group. Founded in 1836, CN 08242022-1 Legal & General is one of the UK`s leading financial services groups and a major global investor with over £1.4 trillion* in assets under management, a third of which is international. We also offer powerful asset creation capabilities. Together, they underpin our industry-leading pension and security solutions: we are a leading international player in pension transfer, life insurance in the UK and the US, and occupational pensions and retirement income in the UK.
Through inclusive capitalism, we want to build a better society by investing in long-term assets that benefit everyone. We provide long-term solutions to pension plans to help them secure their members` retirement income. We also provide excellent service and support everything in-house, from transferring the system to creating individual policies. We have the expertise in our lines of business to use program assets for investment purposes that will allow us to meet the future liabilities we have committed to provide.