Legal & General (L&G) has announced its plans to launch a new international life company later this year.
The move follows L&G’s launch last year of its open architecture products Portfolio Bond and Portfolio Plus pension.
Simon Pistell, managing director, individual wealth at L&G, said: “The gross of tax market has grown considerably in recent years and, with the development of open architecture products in both the UK and international markets, the time is now right for us to move into this arena. The addition of an international bond to our product range will also strengthen our wealth proposition for high net worth investors."
The move is planned for delivery into the UK market in the second half of this year and is subject to regulatory approval.
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation