Home / Types of Life Insurance Policies / - Legal and General
Legal & General were founded in 1836 and have their Head Office in London. Legal & General currently have around 8800 employees.
As well as the United Kingdom, other major trading markets for Legal & General include France, Germany, the Netherlands and the United States.
Legal & General was founded in June 1836 by six lawyers, five barristers and a solicitor in a coffee shop in Chancery Lane, London.
Legal & General was originally called the New Law Life Assurance Society, and was restricted to those in the legal profession. This lasted until 1929 when membership was opened up to the general public and the name was changed to Legal & General Life Assurance Society.
Legal & General expanded in the UK and soon began to acquire overseas life assurance businesses, purchasing the Metropolitan Life Assurance Company of New York in the 1930s.
In 1956 Legal & General set up a life business in Australia.
The society became a wholly owned division of Legal & General Group Plc in the 1970s.
The original Legal & General logo incorporates the likeness 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 in June 1984.
05 July 2007 09:40:24
Aviva, the parent company of UK life cover leader Norwich Union, is mulling over a potential split.
The UK life insurance giant may follow several other British insurers into dividing its business so as to increase efficiency and maximise profit potential.
As the life insurance market grows increasingly competitive, many providers have contemplated the relative benefits of specifically targeting different business sectors, rather than just operating with a broad portfolio.
The Times reports that Aviva bosses have held discussions with stockbrokers Panmure Gordon, who have stressed the possible benefits of a sale or demerger.
Splitting the company's interests would denote a huge change in company direction, coming just over a year after Aviva failed in a merger plan with fellow insurer Prudential.
According to Panmure Gordon, Aviva's non-life insurance business is worth around 206p of the company's overall share price.
However, this value could be increased to above 300p per share if this section of the business was sold, given the comparative valuations of other non-life insurers.
Many UK insurers have deliberated over business break-ups of late, including Legal & General, Royal & SunAlliance and Prudential.
22 February 2008 17:40:19
Tradespeople are putting themselves at risk of an incurable cancer because they don’t know enough about asbestos, the British Lung Foundation has claimed.
Asbestos causes a chest cancer called mesothelioma - which kills one person every five hours in the UK.
As tradespeople, such as builders, plumbers, carpenters, electricians and gas fitters, are most at risk of developing a chest cancer, their life insurance policies may be affected.
A survey carried out by the British Lung Foundation ahead of Action Mesothelioma Day on February 27th revealed that less than a third of tradespeople were aware asbestos exposure can cause cancer and only 12 per cent knew it can kill.
Nearly a third wrongly believed most asbestos has been removed from UK buildings and three quarters had received no training in how to deal with asbestos
"It is a great worry that those most at risk of this cruel cancer know so little about a killer that could be lurking in the building they’re working on today," said Dame Helena
Shovelton, chief executive of the British Lung Foundation.
According to the government, asbestos is the single biggest cause of work related deaths in the UK.
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, critical illness and life insurance advice online
12 May 2008 17:09:27
Two out of three UK adults are now overweight or obese, the British Dietetic Association (BDA) has claimed - a factor which may affect the cost of their life insurance premiums.
According to Rachel Cooke, a spokeswoman for the organisation, "Many of these people are shocked as they feel they are filling their diets with healthy food choices and cannot understand why they cannot lose weight."
While a balanced diet is necessary to ensure nutrition, "if you want to lose weight you need to think that all foods contain calories. You need to think portions and avoid portion distortion," she continued.
For example chocolate, which contains certain nutrients, can be enjoyed in moderation as part of a healthy lifestyle, Ms Cooke added.
Her comments follow claims by Kieran Platt, director of Life Direct, that Body Mass Index, along with smoking, "greatly affects" life insurance premiums.
The BDA was established in 1936 and is the professional association for dieticians.
