Press releases

LEGAL & GENERAL INTERNATIONAL (IRELAND) POSTS STRONG GROWTH FOR THIRD CONSECUTIVE YEAR.

David Fagan - CEO - Legal & General International (Ireland) Ltd
David Fagan
CEO
Legal & General International (Ireland) Ltd

15 March 2012

David Fagan - CEO - Legal & General International (Ireland) Ltd
David Fagan
CEO
Legal & General International (Ireland) Ltd

In 2011 Legal & General International (Ireland) Limited (LGII) increased sales of offshore bonds to £568 million for the full year, up 27% on the previous year’s record sales (£455 million). The offshore bond business, based in Dublin, has delivered three years of growth and become one of the fastest growing international life businesses in the UK.

The Dublin based company launched its first product, International Portfolio Bond, in November 2007 in response to growing demand for access to international investment products from advisers and their clients based in the UK.

CEO of Legal & General International (Ireland) Ltd, David Fagan said: “We have experienced growing demand for our offshore bond, particularly over the last two years. This is a tremendous achievement when seen against the background of the 7% drop in total market sales of UK distributed offshore bonds last year (source ABI). The key drivers for our success appear to be a growing recognition of the quality of our offshore product and technical support, coupled with an increasing focus on the financial strength and market commitment of our Group. This has clearly paid dividends for us as more advisers recognise the benefits of offshore investment for their clients. Our research late last year1 showed an increase in the number of advisers recommending offshore investment to their clients. We are also seeing increasing use of offshore investment plans as supplementary asset accumulation vehicles for retirement by High Net Worth clients.”
Note1 NMG online IFA study with 333 advisers 19/09/2011.

Last year Legal & General International (Ireland) announced that customers could undertake in specie transfers into International Portfolio Bond on the Seven Investment Management Platform and the Skandia Investment Solutions platform.

Advisers who wish to find out more information should contact the Legal & General International (Ireland) Distribution Support Team on 0845 6740 803. Lines are open from 9.00 am to 5.30 pm Monday to Friday. We may record and monitor calls. Call charges will vary.

Notes to editors

The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.

Legal & General International (Ireland) Limited is a subsidiary of Legal & General Group Plc. Registered in England No. 01417162.


For more information please contact:

Mike Connolly

Mike Connolly

About Legal & General

Legal & General International (Ireland) Limited.

Registered address:
Beaux Lane House
Lower Mercer Street 
Dublin 2 
Ireland.

Registered in Ireland No. 440141.

www.legalandgeneralinternational.com

Legal & General International (Ireland) Limited is authorised by the Financial Regulator in Ireland and regulated by the Financial Services Authority for the conduct of insurance business in the UK.

A member of the Association of International Life Offices.

Legal & General International (Ireland) Limited is a subsidiary of Legal & General Group Plc. Registered in England No. 01417162.

Registered address: 
One Coleman Street
London 
EC2R 5AA.

Registered in England No. 01417162.

Seven Investment Management Limited is authorised and regulated by the Financial Services Authority.

Registered office:
125 Old Broad Street 
London 
EC2N 1AR.

Registered in England and Wales number 4092911

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