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Fri, February 7, 2025
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Legal & General Stock Jumps on $2.3B Deal with Meiji Yasuda Life Insurance


Published on 2025-02-07 13:41:09 - MSN
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  • Legal & General stock is up Friday after the company announced a $2.3 billion deal with Meiji Yasuda Life Insurance.

Legal & General Group Plc's stock experienced a significant surge following the announcement of a £1.8 billion ($2.3 billion) deal with Meiji Yasuda Life Insurance Co. Under the agreement, Meiji Yasuda will reinsure approximately 80% of the existing policies from Legal & General's retail protection business, which includes term assurance, critical illness, and income protection products. This transaction, set to close in the first half of 2025, will see Legal & General retain the remaining 20% of the business. The deal not only provides capital benefits to Legal & General but also allows them to focus on growth in other areas of their business. The move was well-received by investors, leading to a notable increase in Legal & General's share price.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/top-stocks/legal-general-stock-jumps-on-2-3b-deal-with-meiji-yasuda-life-insurance/ar-AA1yBS8C ]
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