Legal & General to quit ABI membership

In a statement, it said it will cease to be a member of the organisation at the end of this year. It said: "Legal & General's business has evolved over time, and now a large proportion of its business lines fall outside the remit of the ABI. In the future we believe engagement with government, regulators and other external bodies will be more individually tailored, and less suited to uniform representation through one trade body. "We believe the ABI plays an important role in public policy formulation for the sector, and in promoting best practice and codes of conduct across the secto...