L&G Re Awarded ‘Life Transaction Of The Year’
Legal & General Reinsurance [L&G Re] has won the ‘Life Transaction of the Year’ in Trading Risk Magazine’s annual awards.
A spokesperson said, “Legal & General Reinsurance [L&G Re] announces its success at Trading Risk Magazine’s annual awards with a win in the Life Transaction of the Year category.
“L&G Re’s Adverse Mortality Stop Loss cover, executed in December 2019, protects the reinsurer’s US portfolio of mortality business against a global pandemic and was developed working with brokers Aon Reinsurance Solutions [UK].
“L&G Re’s innovative risk management approach resulted in the purchase of this protection against pandemics in the weeks leading up to the COVID-19 pandemic being declared.”
Thomas Olunloyo, Chief Executive Officer of Legal & General Reinsurance, said: “We are delighted to have received this prestigious award, which recognizes that Legal & General Reinsurance is at the cutting edge of risk management. We will continue to innovate and find ways to deliver the best value and protection for our customers through our strong risk management and unique ability to protect our customers during a crisis.
“Working with our partners Aon Reinsurance Solutions [UK], we were able to tailor a policy that enhances the protection we provide to our customers in the US in the event of a pandemic such as COVID-19.”
Colin Dutkiewicz, Global Head of Life Reinsurance, Aon, added: “Legal & General’s rigorous risk framework required that the solution was robust and fit for purpose. As it turns out it was extremely timely proving the value of a firm attention to detail and discipline in risk management. Aon is proud to have used its global experience in this area to support Legal & General.”
