The three year deal will see DAS provide legal expenses insurance products, as well as legal helpline services for home and pet insurance policy holders, to Legal & General which is the UK’s seventh largest provider of home insurance with over 1.6m policy holders.
The deal strengthens the relationship between the two organisations and will enable them to work more closely to innovate, explore new distribution channels and build new products for emerging markets. It also immediately makes Legal & General one of DAS's top five business partners.
As well as being a top 20 global asset manager, with over £983bn worth of assets under management, Legal & General is the UK’s largest provider of individual life assurance products with annual life insurance premiums of around £2.5bn. The company is also a market leader in managing retirement risk for pension schemes, both in the UK and US, and in 2017 saw its operating profits rise 32% to £2.1bn.
David Rowntree, Head of Product and Underwriting at Legal & General said: “We are delighted to work together with DAS; our organisations have strategic ambitions that overlap whereby we both share the same desire to innovate, and improve the overall market offering available to customers. We have some exciting plans and look forward to refreshing our legal expenses offering.”
James Henderson, Managing Director Insurance UK & Ireland, DAS UK Group, said: “I am absolutely delighted that DAS UK has been able to secure this significant deal with Legal & General, and we are excited about the future potential both organisations have already identified to further innovate and develop the customer proposition. We are really serious about challenging and improving the way legal expenses insurance works for customers and Legal & General is the perfect brand to do this with.”
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