Articles - Legal & General completes acquisition of Lucida


 Further to the announcement made on the 26th June 2013, Legal & General Group Plc is pleased to announce that the acquisition of the entire issued share capital of Lucida Limited (formerly Lucida Plc), by the Group’s subsidiary Legal & General Assurance Society has completed. The final consideration was £149.4m.

 Lucida Limited is a closed UK annuity buy-out company with a portfolio of £1.4bn of annuity assets and is currently responsible for 31,000 pensions in payment. No employees or property will be transferred as part of the acquisition.

 Kerrigan Procter, Managing Director of Annuities at Legal &General commented: "We are delighted to have completed the acquisition of Lucida so swiftly. 31,000 pensioners can feel that they are in safe hands with Legal & General. Our expertise in transitioning large asset portfolios will enable us to integrate the Lucida assets efficiently and ensure that those assets we retain as part of the deal are a natural fit for our annuity fund investment strategy."
  

Back to Index


Similar News to this Story

Mean Reversion in Equities
A common argument in favour of equity investments is that, even though they go down, they will bounce right back up again. Commentators may advise “
How to get the most out of your insurance consultant
More than half of UK life insurance companies (59%) will spend more on actuarial consultants in the next year. This is one of the key findings of our
Video of what a cyber attack looks like in the real world
Hackers and their scams live behind keyboards. Invisible and faceless. Hiscox show how it would look ff cyber crime happened in the physical world, th

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.