British insurer L&G to sell US protection unit for $2.3 billion By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 07 2025
0mins
Source: Investing.com
Legal & General's Strategic Sale: Legal & General is selling its U.S. protection business to Japan's Meiji Yasuda for $2.3 billion and forming a strategic partnership, which includes Meiji Yasuda acquiring a 20% stake in L&G's U.S. pension risk transfer business.
Future Plans and Simplification: Following the sale, L&G plans to initiate a £1 billion share buyback program and use part of the proceeds to fund a U.S. PRT reinsurance arrangement, reflecting its strategy to simplify its portfolio and focus on core businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
