A.M. Best Affirms Credit Ratings of Legal & General Group Plc and Legal and General Assurance Society Limited
The ratings reflect L&G’s very strong balance sheet strength, strong operating performance, favourable business profile and appropriate enterprise risk management. L&G has a strong earnings record, as demonstrated by a five-year average return on equity of 15.5% (as per A.M. Best’s calculations). In 2016, L&G’s profit after tax increased by 15.6% to
A narrow active product range and a concentrated geographic footprint increase the company’s sensitivity to
L&G is one of the U.K.’s largest insurance groups, with a well-established and diversified business model, offering a wide range of protection, retirement and investment products. The group has reinforced its leadership position in the bulk purchase annuity segment in recent years through some of the largest transactions completed in the market to date. In addition,
L&G has maintained an excellent level of risk-adjusted capitalisation over the past five years, underpinned by robust retained earnings.
The following Long-Term IRs have been affirmed and concurrently withdrawn at the company’s request:
Legal & General Finance Plc—
-- “a” on
-- “a” on
-- “a” on
-- “a” on
Legal & General Group Plc—
-- “a-” on
-- “a-” on
The following indicative Long-Term IRs have been affirmed and concurrently withdrawn at the company’s request for securities issued under the
Legal & General Finance Plc—
-- “a” on senior debt
Legal & General Group Plc—
-- “a-” on subordinated debt
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
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