L&G joins the ABI

L&G has become a member of the ABI, the voice of the UK’s world-leading insurance and long-term savings industry.

Established in 1836, L&G is one of the UK's leading financial services groups and a world leader in solving society’s retirement and investment needs. It is the largest provider of bulk purchase annuities in the UK, provides workplace pensions, retail annuities and protection to over 12 million customers, and manages £1.1trillion in AUM across public and private markets.

Representing over 300 member firms, the ABI works closely with UK governments, regulators, consumer organisations and NGOs to promote the value and importance of the sector to the wider economy and support customer understanding.

L&G and the ABI have worked together on a number of projects of mutual interest in recent years, including the tracking of the industry’s pledge to invest £100bn in productive finance following the reform of Solvency II. With the ABI’s strengthened focus on pension investment and the bulk purchase annuity market, as well as vital ongoing work around workplace pensions and adequacy, it is a timely point for L&G to join as a member with immediate effect.

Andy Briggs, ABI President and Group CEO, Phoenix UK, says:

"We are delighted to welcome L&G as a member. They will further strengthen the excellent work of the ABI and increase our strong representation of the sector”

António Simões, Group CEO, L&G says:

“The pensions and insurance sector is vital to securing retirement outcomes for millions of people across the UK. Shaping a strong, collective industry position will be critical as the UK’s retirement, capital and investment framework evolves and the ABI will play a central role. As the UK’s largest pension risk transfer provider with a leading retirement and protection business, we’re pleased to work with the ABI to shape the industry’s future and create the right conditions for our customers.”

Laura Mason, CEO, Retail, will represent L&G at the most senior level with the ABI’s governance structure.

Laura Mason says:

“I am delighted to bring L&G’s deep expertise across retirement and protection to support the ABI’s work to improve outcomes, widen access to long-term savings and help people feel more financially secure. Working alongside others in the industry, this partnership gives us a real opportunity to strengthen the market, drive innovation and make a meaningful difference for millions of people.”

Hannah Gurga, ABI Director General, says:

“The ABI is working at the heart of conversations to improve resilience and retirement outcomes for millions of customers across the UK. Having L&G onboard is a fantastic boost for our work and for the sector to operate as one voice. We’re thrilled to have them within our membership.”

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