Mental health main secondary condition for work absentees
by Gill Montia
Story link: Mental health main secondary condition for work absentees
Analysis by Legal & General (L&G) of research into the Department of Work and Pensions Fit for Work Service shows that 73% of respondents who were absent from work reported more than one health condition, with mental health illnesses the most commonly reported secondary condition. For example, 44% of respondents who reported that their main [...]
L&G to launch emerging markets government bond fund
by Gill Montia
Story link: L&G to launch emerging markets government bond fund
Legal & General Investments (L&GI) has received regulatory approval for the launch of an emerging markets government bond index fund, which, when up and running on the 11th December, will be the only UK authorised emerging market government bond index mutual fund. It will provide passive exposure to emerging market government bonds by investing primarily [...]
“Digital Neighbourhood” advances on local crime
by Gill Montia
Story link: “Digital Neighbourhood” advances on local crime
Sixty per cent of Britons say they are already using, or would be open to using, digital channels to stay one step ahead of local crime. According to new research from Legal & General, residents are already using, or are open to using, email updates from the police (56%), e-newsletters (56%), local community email groups [...]
Mental disorders keep one million Britons off work
by Gill Montia
Story link: Mental disorders keep one million Britons off work
New research from Legal & General (L&G) shows that over one million Britons are claiming benefits because mental and behavioural disorders mean they can’t work, an increase of over 25% in the last ten years. According to Department for Work and Pensions figures, 1,031,700 people were claiming sate benefits in February 2012 because mental and [...]
L&G appoints head of treasury & investments
by Gill Montia
Story link: L&G appoints head of treasury & investments
Legal & General (L&G) has appointed Paul Stanworth as head of group treasury and investments, reporting to group chief executive officer, Nigel Wilson. Heading a newly created team, Mr Stanworth will be responsible for the overall asset strategy and financing of L&G’s balance sheet which comprises: £40.1 billion of assets across all shareholder interests; £16.4 [...]
L&G Investment Management appoints chief compliance officer
by Gill Montia
Story link: L&G Investment Management appoints chief compliance officer
Legal & General Investment Management has appointed Teresa Poy as chief compliance officer, reporting to Paul Sweeney, head of legal and regulatory affairs. Ms Poy joins from TT International where she was head of compliance for Europe and North America. Prior to this she worked for Barclays Global Investors, where she was deputy head of [...]
IFAs favour passive funds
by Gill Montia
Story link: IFAs favour passive funds
Research from Legal & General Investments (L&GI) shows that advisers are viewing passive investments far more favourably this year than last. When asked which asset classes they would be investing into over the next 12 months, nearly two in five IFAs surveyed indicated they would be buying passive funds, an increase of 7% on 2011, [...]
L&G to administer Co-op AE pension scheme
by Gill Montia
Story link: L&G to administer Co-op AE pension scheme
Legal & General Workplace Savings has been appointed by The Co-operative Group to administer its automatic enrolment pension scheme. Around 40,000 Co-op staff will meet the automatic enrolment criteria, with a further 30,000 able to opt into the scheme. As one of the UK’s larger employers, the staging date for the Co-op’s automatic enrolment is [...]
L&G announces First Trust partnership
by Gill Montia
Story link: L&G announces First Trust partnership
Legal & General (L&G) and First Trust Bank have announced a long-term joint distribution agreement for a range of life insurance, investment and pension products. Part of AIB Group (UK), First Trust Bank is headquartered in Belfast and has 48 branches across Northern Ireland. Under the agreement, First Trust’s financial consultants will sell L&G’s products [...]
L&G launches “Interactive House”
by Gill Montia
Story link: L&G launches “Interactive House”
Research from Legal & General (L&G) suggests that less than a quarter of homeowners are clear about what is and isn’t covered under their home contents insurance, while only one in five are likely to know exactly what their buildings insurance covers. To help consumers get a better grasp, L&G has launched an “Interactive House” [...]
Households able to save drop by 400,000
by Gill Montia
Story link: Households able to save drop by 400,000
The latest MoneyMood Survey from Legal & General suggests that around eight million UK households (41%) can afford to save something each month, although the figure is down by 400,000 on an annual basis. In addition, savers across the UK are putting away less each month at an average £71, compared with £93 in January, [...]
Legal & General names new chief executive
by Richard Kilner
Story link: Legal & General names new chief executive
Legal & General Group Plc has announced that Dr. Nigel Wilson is to become the firm’s new group chief executive. Wilson will succeed Tim Breedon, and joined the firm as group chief financial officer and a Board member in 2009. He becomes group chief executive designate with immediate effect and will formally assume his new [...]
L&G launches Asset Manager TV
by Gill Montia
Story link: L&G launches Asset Manager TV
Legal & General has launched a new web-based video service that provides advisers with access to webinars, market commentary and web events presented by selected fund managers. The service, developed in partnership with BrightTalk, is one of several new offerings introduced as L&G upgrades its fund centre website. Asset Manager TV will feature content from [...]
Mental and behavioural disorder claimants up 29%
by Gill Montia
Story link: Mental and behavioural disorder claimants up 29%
New analysis by Legal & General shows that the number of people claiming Employment and Support Allowance (ESA) because of mental and behavioural disorders has increased over 29% since 2010. ESA is paid to people who cannot work because of ill-health or disability and in May 2011, 265,530 people were claiming the allowance because of [...]
Legal & General reports strong 2011 results
by Richard Kilner
Story link: Legal & General reports strong 2011 results
Legal & General has reported its financial results for 2011, including an IFRS pre-tax profit of £956m (down from the £1,092m of 2010). However, the firm’s operating profit increased to £1,056m from £1,002m, and worldwide sales rose by 7%, year-on-year, to £1.9bn APE. Legal & General also increased its dividend by 35%, from 4.75p per [...]
L&G extends agreement with Yorkshire Building Society
by Gill Montia
Story link: L&G extends agreement with Yorkshire Building Society
Legal & General has extended its agreement with Yorkshire Building Society to become the Society’s main provider of financial service advice and products. In the last three years, Yorkshire has grown significantly as a result of three mergers (Barnsley, Chelsea and Norwich & Peterborough building societies) and the acquisition of Egg mortgage and savings books. [...]
Cyber criminal welcome the “Face-braggers”
by Gill Montia
Story link: Cyber criminal welcome the “Face-braggers”
Nine out of ten Britons using social media at least once a week have been asked to connect online with someone they have never met, and over half have accepted these requests, according to Legal & General’s latest CyberSafety report. Nearly two thirds of those who have connected with people they don’t know have done [...]
L&G enhances critical illness cover
by Gill Montia
Story link: L&G enhances critical illness cover
Legal & General’s group critical illness cover now includes cover for aplastic anaemia, bacterial meningitis, cardiomyopathy, encephalitis and liver failure. In addition, the insurer has adjusted the survival period for most illnesses from 30 to 14 days and is increasing the value of support available to claimants. Their maximum benefit can now be up to [...]
L&G’s With Profits bonus up 11.6%
by Gill Montia
Story link: L&G’s With Profits bonus up 11.6%
Legal & General’s With Profits fund returned 1.7% (before tax) in 2011 and the group has confirmed that it can maintain annual bonus rates at last year’s levels for conventional endowment mortgage customers, and for the majority of its bond and unitised pensions customers. Total bonuses of £459 million have been added to With Profits [...]
Finance & Insurance top for mental health IP claims
by Gill Montia
Story link: Finance & Insurance top for mental health IP claims
Group income protection (GIP) claims for mental health are at their highest in the “Finance and Insurance” sector, according to Legal & General. The insurer has recently published an analysis of its GIP claims since 2000 with the figures showing that overall, 31% of claims were for mental health issues such as stress and depression, [...]
