Legal & General

Legal & General: Everything you need to know

Headquarters address

1 Coleman Street, London EC2R 5AA, United Kingdom

Year established

1836
Size (employees) 10,000+
Global locations Asia, Belgium, Denmark, Finland, France, Germany, India, Ireland, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, United Kingdom, United States
Core operating profit £1.6 billion (2025)
Profit before tax £807 million (2025)
Underwriting expertise Life, home, pet, and travel insurance
Key people António Simões (group chief executive officer)

About Legal & General

Legal & General is a financial services group and investor with businesses across Europe, the Middle East, Asia, and the USA. It operates in five segments:

  • Retirement Institutional (LGRI) works with advisers, companies, and pension fund trustees to protect the corporate pensions of people by providing secure pension incomes.
  • Retirement Retail (LGRR) helps customers who are looking for financial security in later life by providing annuities and lifetime mortgages.
  • Legal & General Capital (LGC) manages customer and shareholder assets and focuses on improving returns by putting money into direct investments.
  • Investment Management (LGIM) offers investment management services for corporate pension schemes, with assets of over £1 trillion.
  • Insurance (LGI) provides coverage for life, disability, critical illness, and long-term sickness.

Legal & General’s business strategy focuses on six “global growth drivers”: ageing demographics, creating real assets, globalization of asset markets, welfare reforms, current capital, and technological innovation.

History of Legal & General

Six lawyers founded Legal & General in June 1836 to provide financial services in the UK. Over the years, it has focused on delivering quality products and services to its customers, giving back to society through its corporate social responsibility (CSR) initiatives, and creating value for its shareholders.

In 2010, Legal & General launched its IndiaFirst joint venture, which sold 130,000 policies in its first year of operation. In 2011, the group completed its first billion bulk annuity deal with the Turner and Newall pension scheme to continue paying pensions to members.

In 2012, the group welcomed its first retirement customers in the government’s new auto-enrolment scheme and launched Skyman, a digital app that highlights the importance of insurance. In 2013, it acquired 46.5% of UK house building company CALA Homes. In 2017, it boosted its US assets to $189 billion, expanded its US pension risk transfer business, and improved the digital capabilities of its US insurance business.

Leadership at Legal & General

António Simões - Group chief executive officer

António Simões was appointed to the role on 1 January 2024. He joined the group from Banco Santander, where he served as CEO of Santander Spain and regional head of Europe from 2020, leading businesses across retail and commercial banking, corporate and investment banking, wealth management, and insurance. Before Santander, he spent 13 years at HSBC in London and Hong Kong, holding senior posts that included UK and Europe CEO and global CEO of private banking. Earlier, he was a partner at McKinsey & Company, advising financial institutions across several markets.

Simões studied in Lisbon at Nova School of Business and Economics, in Milan at Bocconi University, and in the United States, where he earned an MBA from Columbia University. In 2009, the World Economic Forum named him a Young Global Leader, and he later completed a WEF leadership program at Harvard Kennedy School. He has held public-interest roles as a member and former chair of the UK Financial Conduct Authority’s Practitioner Panel and as a member of the Prudential Regulation Authority’s Practitioner Panel. A strong advocate on youth unemployment, he has worked with The King’s Trust since 2012 and became a trustee of King’s Trust International in 2018.

Culture at Legal & General

Legal & General focuses on running its business on a high standard, improving the lives of its customers, taking care of the environment, creating new investments for the economy, and helping communities by using the group’s financial solutions.

The group believes that putting its employees first will improve customer service, build a better society, and create value for its shareholders. It takes care of its people by promoting a diverse and inclusive working environment, addressing areas of improvements, recognizing contributions, and celebrating employees’ success.

Legal & General helps communities through fundraising, volunteering, charity stakeholders, social enterprises, and education. It allows its employees to nominate local charities that Legal & General will support, volunteer for call centre donation appeals, and take part in the group’s fundraising activities. It supports Alzheimer’s Research UK, Duke of Edinburgh Award Programme, Hospice UK, Place2Be, Royal Voluntary Service, Hospice UK, and the Stroke Association.

Legal & General addresses climate change by using its influence as an investor to promote the transition to a low-carbon economy. It develops energy-efficient homes in its housing business, invests in renewables, reduces the carbon footprint of its business activities, and works with organizations to encourage climate resilience.

Which insurance brands do TikTok best - revealed
A new ranking shows how the UK's biggest insurers are competing on the platform where younger audiences now search first
Which insurance brands do TikTok best - revealed
Admiral to cut 500 UK jobs in £100m cost drive
The Cardiff-based insurer says the cuts are about efficiency, not AI. It is the latest in a run of UK insurers shrinking headcount as motor margins tighten
Admiral to cut 500 UK jobs in £100m cost drive
L&G set to slash jobs by 10%
Insurer and pensions group opens voluntary redundancy scheme, compulsory cuts still possible
L&G set to slash jobs by 10%
Co-op's insurance and funeral arms do heavy lifting as it climbs out of cyberattack hole
Life services out-earned the rest of the group in the first half, with insurance profit up 20%, while the bill for last year's uninsured hack still hangs over the mutual
Co-op's insurance and funeral arms do heavy lifting as it climbs out of cyberattack hole
L&G Re names Tom Ault as CEO, promotes internal dealmaker to top job
Amy Ellison hands over the reins after four years to take on a group-wide audit role in London
L&G Re names Tom Ault as CEO, promotes internal dealmaker to top job
95% of landlords say they understand the rules. 96% are worried they'll still get it wrong
More compliance changes are coming in 2026 and 2028, and a quarter of landlords are already weighing an exit - brokers have a genuine window to fill the gap
95% of landlords say they understand the rules. 96% are worried they'll still get it wrong
Court of Appeal ruling on TUI cover shows what happens when insurance gets too expensive
Five pilots have lost their fight over cuts to a permanent health insurance scheme, in a case that traces a familiar path
Court of Appeal ruling on TUI cover shows what happens when insurance gets too expensive
FCA sets out expectations for insurers on managing conflicts of interest
Regulator says disclosure alone is not enough as vertically integrated business models come under scrutiny
FCA sets out expectations for insurers on managing conflicts of interest
Are insurers making too many risky investment bets?
Carriers on both sides of the Atlantic are chasing yield – and regulators are taking a close look
Are insurers making too many risky investment bets?
UK bulk annuity private credit risk remains manageable - S&P
Resilience tests show BPA insurers can absorb an 11% default rate across illiquid portfolios, even as outside capital entry intensifies
UK bulk annuity private credit risk remains manageable - S&P
Free newsletter

Our daily newsletter is FREE and keeps you up - to - date with the world of Insurance. Please complete the form below and click on subscribe for daily newsletters from IB UK.