Pandemic protection deal earns award for Legal and General Re – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS

Pandemic protection deal earns award for Legal and General Re

Mail

Print

Tweet

Timely transaction: Thomas Olunloyo, CEO of Legal and General Re (File photograph)

Bermudian-based Legal and General Re won in the Life Transaction of the Year category at Trading Risk magazine’s annual awards.

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 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 and General Re, said: “We are delighted to have received this prestigious award, which recognises that Legal & General Re 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 at Aon, added: “Legal and 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 and General.”

Mail

Print

Tweet

You must be registered or signed-in to post comment or to vote.

Published October 20, 2020 at 7:18 pm (Updated October 20, 2020 at 7:17 pm)

Pandemic protection deal earns award for Legal and General Re

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon