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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Legal & General Plc    LGEN   GB0005603997

LEGAL & GENERAL PLC

(LGEN)
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Legal & General : announces £2.5 million transaction with the BHS Senior Management Scheme

11/04/2020 | 04:46am EST

4 Nov 2020

Legal & General Assurance Society Limited ('Legal & General') today announces that it has agreed a £2.5 million bulk annuity transaction with the Trustee of The BHS Senior Management Scheme ('the Scheme'), securing the remaining members' benefits.

British Home Stores (BHS) went into administration in April 2016, resulting in a Pension Protection Fund (PPF) assessment period.

This transaction has enabled the Scheme to exit the PPF's assessment period, securing benefits in excess of the those payable from the PPF and providing additional certainty for the Scheme's remaining members. The Scheme members will become Legal & General policyholders.

Providing long-term financial security to pension scheme members is important to us and that is why we are pleased to have helped the BHS Senior Management Scheme secure the remaining members' benefits. This transaction demonstrates how we can support pension schemes at the smaller end of the market to deliver beneficial outcomes for members and enable them to exit the PPF.

Aysha Patel, Origination and Execution Director, Legal & General Retirement Institutional

For further information, please contact:

Disclaimer

Legal & General Group plc published this content on 04 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2020 09:44:44 UTC


© Publicnow 2020
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Sales 2020 32 991 M 45 356 M 45 356 M
Net income 2020 1 664 M 2 287 M 2 287 M
Net Debt 2020 1 149 M 1 579 M 1 579 M
P/E ratio 2020 9,17x
Yield 2020 6,89%
Capitalization 15 303 M 21 018 M 21 039 M
EV / Sales 2020 0,50x
EV / Sales 2021 0,40x
Nbr of Employees 8 542
Free-Float 97,4%
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Technical analysis trends LEGAL & GENERAL PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 279,56 GBX
Last Close Price 257,80 GBX
Spread / Highest target 47,4%
Spread / Average Target 8,44%
Spread / Lowest Target -36,0%
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NameTitle
Nigel David Wilson Group Chief Executive Officer & Executive Director
John Kingman Chairman
Jeff Davies Group Chief Financial Officer & Executive Director
Julia Susan Wilson Senior Independent Non-Executive Director
Lesley Mary Samuel Knox Independent Non-Executive Director
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