LONDON (Alliance News) - Life insurer and investment manager Legal & General Group PLC on Thursday said it has completed a UK pension risk transfer deal and said it has continued to invest in UK infrastructure and direct lending in the first quarter of 2016.
L&G said it has entered its first large UK pension risk transfer deal of 2016, a buy-in involving around GBP330.0 million in pension liabilities. The group did not provide any details on the client or the agreement.
L&G added it is competing on UK pension risk transfer deals worth over GBP10.0 billion.
In a separate statement Thursday, L&G said it has invested GBP750.0 million in UK infrastructure and direct lending in the first quarter of 2016, including a GBP250.0 million commercial infrastructure funding deal which completed in the past week.
Shares in L&G were up 1.1% to 237.40 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Legal & General (LGEN)
