L&G

Legal & General (L&G) has set up a small team focused on providing tax solutions to high-net worth (HNW) clients of discretionary fund managers (DFMs) and the advisers who use them.

Legal & General (L&G) is increasing the underwriting limits across its life insurance and critical illness (CI) products among other changes to its protection proposition.

Legal & General (L&G) has reported that its investment arm, LGIM, has taken in gross inflows of £15.4bn in the third quarter of the year,an increase of 71% on last year.

Legal and General (L&G) workplace savings managing director Tony Filbin is due to retire and concentrate on his independent roles and governance, a spokesman has confirmed.

Legal & General is in talks with Unite over potential redundancies at from its protection and savings divisions.

Insurers have welcomed the Office of Fair Trading's (OFT) recommendation to introduce independent governance committees for contract schemes.

TAX PLANNING

Legal and General (L&G) will cap its charges on the default fund within workplace pension schemes at 50 basis points (bps) from 9 September.

Legal & General (L&G) has signalled its intention to become a "major player" in delivering low cost passive investment solutions to UK retail clients as the group saw profits rise 13% in the first half of the year.

SECTOR REPORT