Legal & General

Office address: 1 Coleman Street, London EC2R 5AA 
Website: www.legalandgeneral.com 
Year established: 1836 
Company type: financial services 
Employees: 10,000+ 
Expertise: investments, pensions, savings, personal finance, insurance, retirement, surveying, lifetime mortgages, annuities, equity release 
Parent company: Legal & General Group Plc 
Group CEO and key people: Antonio Simoes (group CEO), Jeff Davies (CFO), Emma Hardaker-Jones (CTPO), Bernie Hickman (CEO, Legal & General Retail), Andrew Kail (CEO, Legal & General Institutional Retirement), Chris Knight (CRO), Laura Mason (CEO of Legal & General Capital) 
Financing status: corporation   

Legal & General is a financial services group that is based in London, specialising in investments, pensions & retirement, and insurance. The group manages assets worth over $1.2 trillion and serves over 10 million customers globally. The company employs more than 10,000 individuals, operating across the UK and the US, extending into Asia and Europe.   

History of Legal & General 

Legal & General was founded by six lawyers in 1836, originally focusing on life insurance but has expanded into commercial sectors by the late 19th century. The 1980s saw it branch into investment management with Legal & General Investment Management (LGIM), becoming a top European manager.  

Legal & General focused on pension risk transfers after the 2008 financial crisis, and it ventured into real estate and urban regeneration in 2015. The 2020s emphasised sustainability and investments in renewable energy. Under newly appointed CEO Antonio Simoes, the company heads towards digital transformation and inclusive capitalism in 2024 to broaden economic growth opportunities for all.   

Products and Services of Legal & General 

Legal & General provides a wide array of products and services that meet the different needs of its customers. Key offerings include: 

  • life insurance: comprehensive coverages including term life, over 50s, and critical illness cover 

  • pensions and retirement: solutions tailored for both individual and institutional clients, facilitating retirement planning 

  • investments: broad investment options ranging from individual savings accounts to complex portfolio management for institutional investors 

  • lifetime mortgages: specialised mortgage products that allow older homeowners to release equity from their properties   

Culture at Legal & General 

Legal & General's work culture is centred on inclusivity and empowerment, creating an environment that focuses on a healthy work-life balance. The company provides a range of benefits to support the diverse needs of its employees. Among standard benefits, key perks include: 

  • annual bonus and share schemes 
  • generous pension and life insurance 
  • minimum 25 days holiday, with buy/sell options 
  • option to avail electric car via salary sacrifice 
  • discounts on products and retail 

Legal & General's approach to Diversity and Inclusion (D&I) recognises that a varied workforce enhances creativity, decision-making, and performance. The company commits to fairness and equal opportunities for all while seeking to create an inclusive culture that welcomes diverse perspectives and backgrounds. Specific D&I initiatives at Legal & General include: 

  • bias-free recruitment 
  • employee resource groups 
  • career advancement programs 
  • mentoring opportunities 
  • diversity education 

Legal & General's ESG principles aim to influence positive change across their investments and operations. They integrate these factors into their business practices to ensure long-term value creation that benefits society and the environment. This approach includes initiatives such as: 

  • Climate Action: 

  • Paris Climate Agreement: commitment to net-zero by 2050 

  • LGIM Climate Impact Pledge: engagement and exclusion policy for high-emission companies 

  • Sustainable Property Fund: targets net zero by 2030 

  • Social Inclusion: 

  • diversity and inclusion policies: workplace and hiring initiatives 

  • affordable homes program: investment in affordable and social housing 

  • Governance: 

  • corporate governance engagement: voting on governance issues in invested companies 

  • executive pay reviews: alignment of pay with performance and ethical standards 

  • Sustainable Investment: 

  • Future World Fund: incorporates ESG factors into investment decisions 

  • ESG integration across funds: applies ESG criteria to all investment activities 

About Legal & General Group CEO Antonio Simoes and Key People 

Antonio Simoes took leadership at Legal & General as its new CEO in January 2024. Simoes’ professional experience includes working as regional head of Europe at Banco Santander, CEO of Global Private Banking at HSBC, young global leader at World Economic Forum, and more. He attended Columbia Business School, Harvard Kennedy School, SDA Bocconi, and Nova School of Business and Economics. 

Supporting Simoes in operating Legal & General is the company’s group management committee, including: 

  • Jeff Davies, serving as CFO, manages the company’s financial strategies and operations 

  • Emma Hardaker-Jones, as chief transformation & people officer, focuses on organisational culture and employee development 

  • Bernie Hickman, as CEO, Legal & General Retail, heads operations for the company’s retail division and other consumer-focused financial solutions 

  • Andrew Kail, CEO of Legal & General Institutional Retirement, leads the company’s provision of retirement solutions for institutional clients 

  • Chris Knight, chief risk officer, manages the firm’s risk framework, safeguarding against potential financial vulnerabilities 

  • Laura Mason, CEO of Legal & General Capital, focuses on strategic investments in real assets, fostering long-term growth   

The Future at Legal & General 

Legal & General has been achieving strong financial results and engaging in strategic investments and sustainable business practices to ensure long-term profitability. Recent record achievements in pensions and annuities also lay a solid foundation for reaching ambitious five-year targets by 2024. The company's expansion in international management and alternative assets demonstrates a proactive strategy for capturing global market opportunities. 

Moving forward, the company seeks to enhance its technology, streamlining operations and improving customer engagement. They have also been participating in societal infrastructure like affordable homes and renewable energy cater to increasing demands for socially responsible investments. These initiatives position Legal & General for sustainable growth in the future, benefiting shareholders, customers, and the community. 

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