What started life as the New Law Life Assurance Society in 1836, Legal and General has risen to one of the most recognisable brands in the insurance world with a net income was £801 million in 2012.
The company changed name when it started offering insurance plans to the general public and not just the legal professionals like when it began. The company grew in the US when it bought the pension business from Met Life and from 1956 started offering life cover in Australia. The famous umbrella came into existence from 1984 replacing the old Temple Bar logo. Legal and General own one of the largest estate agents in the UK and operate out of 110 branches. Legal & General is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. Their operating income in 2012 was £1,210 million pounds.
- Legal & general paid out 97.9% of claims in 2012*
- Amount of cover never decreases
- Insurer guarantees never to increase premium (once activated, including RPI plans)
- Includes terminal illness cover