Legal & General Information
Legal & General Group Plc (LSE: LGEN), commonly known as Legal & General, is a multinational financial services company headquartered in London, United Kingdom. Its products include life insurance, general insurance, pensions and investments.[2] It has operations in the United Kingdom (where it has over 6.9 million customers), Egypt, France, Germany, the Gulf, India, the Netherlands and the United States.[2][3] As at end-December 2009 it had total funds under management of £315 billion.[2]
It listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
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History
Legal & General was formed by Sergeant John Adams and five other lawyers in June 1836 in a Chancery Lane coffee shop.[4] Originally called the New Law Life Assurance Society, the society was restricted to those in the legal profession. The name was changed to Legal & General Life Assurance Society to reflect that policies were available to the general public but with share ownership restricted to those in the legal profession.
The group expanded in the UK and soon began to acquire overseas life assurance companies, purchasing a pensions business from the Metropolitan Life Assurance Company of New York in the 1930s.[4]
In 1956 Life business was set up in Australia.
The society became a wholly owned division of Legal & General Group plc in the 1970s.[5]
During the 1980s Legal & General bought Government Employee Life Insurance in the USA and the Dutch branch of Unlike Assurance Group and set up business in France.[5]
Previous Legal & General Logo.The previous Legal & General logo incorporates the image of the Temple Bar (which is still used in the logo of the company's social and athletic committee), and the founding date. The umbrella logo used today was introduced by former Chief Press Officer Gordon Macdonald in June 1984.
During the early 1990s, Legal and General had been sponsoring the Regional Weather Forecasts for the ITV network.
In 1999, Legal & General announced plans to merge its business with that of the National Westminster Bank to form the first 'bancassurance' company in the UK.[6] However, poor market reception to the deal saw the Royal Bank of Scotland bid for the National Westminster, and the merger deal collapsed.
In 2003, Northern Rock bought the Legal & General Bank and Legal & General Mortgage Services.[7]
In 2005 Legal & General sold its stake in Gresham Insurance, its joint venture with Barclays Bank, to Barclays.[8]
In 2008 Legal & General bought Suffolk Life, a provider of Self Invested Pension products.[9]
In 2008, Legal & General outsourced its IT development areas to TCS (Tata Consultancy Services).[10]
In 2009, Legal & General formed a joint venture with two Indian public sector banks, Bank of Baroda and Andhra Bank to launch IndiaFirst Life Insurance Company in India.[11]
Operations
Today the company continues to offer a wide range of products and, in addition to its direct sales service and brokerage agreements with numerous tied agents and independent financial advisers, it has alliances to sell its products to the customers of Barclays Bank, Birmingham Midshires, Norwich and Peterborough Building Society, National Australia Bank, Bank of Ireland, HSBC, Royal Bank of Scotland, Yorkshire Building Society, Leek United Building Society, Bradford & Bingley, Chelsea Building Society, Northern Rock, Nationwide Building Society, The Woolwich and Sainsbury's Bank.[citation needed]
Estate Agency - Xperience
Although not often promoted by the company, Legal & General also owns one of the largest estate agency/lettings agency franchise businesses in the UK through its LGFL (Legal & General Franchising Ltd) subsidiary. The businesses are not marketed under the Legal & General brand, but instead operate under a number of regional brands, operating over 110 branches nationwide.
LGFL Franchisees trade under one of four different brand names depending on the area in which they operate. Each brand name has been trading for at least 17 years and in some cases over 150. The brands are:
- CJ Hole
- Ellis & Co
- Parkers
- Whitegates
- Michael Evison
Since 2005 LGFL has operated under the name Xperience further separating the branding of operation from the main Legal & General brand.[12]
Senior management
Tim Breedon became CEO on 1 January 2006. For this role he is paid an annual salary of £770,000.[13]
References
- ^ a b c Preliminary Results 2009
- ^ a b c "Annual Report and Accounts 2009". Legal & General Group Plc. http://reports.legalandgeneralgroup.com/2009/ara/servicepages/downloads/files/entire_lng_ar09.pdf. Retrieved 2 November 2010.
- ^ "About Us". Legal & General Group Plc. http://www.legalandgeneralgroup.com/about-us/about-us.cfm. Retrieved 2 November 2010.
- ^ a b Legal & General milestones 1800-1950
- ^ a b Legal & General milestones 1960-1980
- ^ 'Bankassurance' comes to Britain
- ^ Why Northern Rock is music to people's ears
- ^ Sale of 90% stake in Gresham Insurance
- ^ L&G acquires Suffolk Life
- ^ L&G could outsource IT functions
- ^ Andhra Bank, BoB, L&G Group in insurance JV
- ^ Xperience
- ^ "Tim Breedon: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=8094759&ric=LGEN.L. Retrieved 18 August 2009.
External links
- Legal & General Group Plc - Official Company Page
- Legal & General Direct - official website for customers
- Legal & General Pension Training Videos
- Xperience Estate Agency
- Legal & General ISA Investments
- Legal & General Home Insurance
- Legal & General Life Insurance
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Categories: Companies listed on the London Stock Exchange | Companies established in 1836 | Insurance companies of the United Kingdom | Companies based in London | Life insurance companies
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By KJ DELL'ANTONIA, parenting.blogs.nytimes.com
2012-02-03 00:20:03
Choosing the legal guardian for your child in the event of your death is the right thing to do. I still haven't done it.
Q. Can't have speakers IN wall, wires, screws etc can be though. No more than $600 - don't suggest the most expensive thing either, I want other stuff for Christmas besides stocking stuffers and speakers, another guitar would be Should movable or cover-able, because I do graffiti (only legal goddamnit...). Sound from i Pod, Macbook Pro [New one newest software], possibly a windows desktop for gaming, and possibly a TV-monitor for desktop. Also if you can hook up to a guitar amp that would be great Multiple speakers=good About 120 square feet. 10x12. What genres I listen to: 1. Dubstep-Drum and Bass (if you don't know what it is, look up UKFdubstep on youtube and search I Can't Stop - Flux Pavillion one of my fav's) 2 (tie). Rock - hard and… [cont.]
Asked by Evan - Sat Oct 16 18:35:17 2010 - Music & Music Players - 3 Answers - Comments
A. Forget speakers. They are a dead technology. What you should do is hire an acapella group that knows all of the songs you like to listen to. They can sing on command and will never break. An acapella group is definitely the way to go.
Answered by Dr. Z - Sat Oct 16 18:44:37 2010