Proposed transfer of business from Legal & General to ReAssure

Legal & General Assurance Society Limited (“Legal & General”) have proposed to transfer its traditional insurance-based savings, pensions, life and with-profits policies to ReAssure under Part VII of the Financial Services & Markets Act 2000.

The transfer will significantly increase the size of ReAssure from approximately 2.2 million policies and £39 billion of assets under management to approximately 3.2 million policies and £67 billion of assets under management.

If approval for the transfer is received from the High Court, it is due to take place on 4 November 2019.

We’ve provided more information about the proposed transfer here.