Life insurance company duck credit crunch

Fri, 11 Jan 2008

Insurance company Legal and General seem to have weathered the credit crunch, potentially steering around the slowdown in the housing market and the turmoil in global financial markets . The life insurance and investment company has experienced excellent new business figures from their UK life and pensions industries, indicating that the UK life insurance market is healthier than ever.

Although 2008 is going to be a tough year for many financial services companies, L&G were clear that profitability will continue to increase. The last three months of 2007 were the best of the year for new life insurance policy business for the company, although the biggest leap came in the annuity business.

Some protection products faced falling sales, including critical illness and death benefit plans . Legal and General have struck a new deal with Nationwide, whereby the building society will sell their products as of February 1st.
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