Pensions

L&G: Bank of England helped ‘alleviate pressure’ on LDI clients

Radical action in the bond market has helped calm key pension strategies, firm says

Tuesday 4 October 2022 at 08:11

Sir Nigel Wilson says the insurer remains resilient despite the market volatility
Sir Nigel Wilson says the insurer remains resilient despite the market volatility Photo: Luke MacGregor/Getty Images

Legal and General has attempted to reassure investors that it remains in strong financial health despite the crisis that engulfed the gilt and liability-driven-investment markets last week.

Through its asset management division, L&G is one of the UK's biggest providers of LDI strategies, and had seen its share price fall some 13% between the mini-budget on 23 September and the market close on 3 October.