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High Court approves transfer of business from Legal & General to ReAssure

Written by Adam Cadle
24/08/2020

The High Court has approved the transfer of business from Legal & General to ReAssure.

This means approximately one million Legal & General policies are anticipated to transfer to ReAssure on 7 September 2020.

Legal & General has proposed to transfer its traditional insurance-based savings, pensions, life and with-profits policies to ReAssure under Part VII of the Financial Services & Markets Act 2000.

The transfer will significantly increase the size of ReAssure from approximately 2.2 million policies and £39bn of assets under management to approximately 3.2 million policies and £67bn of assets under management.

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