Legal & General to sell its closed Mature Savings business to Swiss Re
Legal & General Group Plc ("Legal & General") announces that it has today reached agreement to sell its Mature Savings business to the ReAssure division of Swiss Re Ltd ("Swiss Re") for £650m.
Swiss Re's ReAssure division is a life and pensions business designed to manage closed and non-core in-force portfolios, focusing on delivering excellent service and outcomes to policyholders. By transferring the Mature Savings business to Swiss Re we are confident that this will deliver positive results for the existing Legal & General customers who will benefit from this focus and economies of scale in the specialisms required.
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