Legal & General has confirmed it is to enter the offshore market with the establishment of a new international company in Ireland which will deliver offshore bonds into the UK market by the second half of the year.
In its full year preliminary results, Legal & General announced it has seen a year-on-year increase in unit linked bond sales of 26%, which it says has largely been driven by the success of its open architecture portfolio bond which was launched in October 2005 and aimed at the high-net worth market. “In line with trends in the market and as a natural extension of our HNW product range we have taken the decision that the time is now right for us to enter the international arena," says L&G in its results. Subject to regulatory approval, the company plans to launch a new company in Irelan...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
