L&G Plans £500 Million Buyback, Sees Busy Pension Deal Pipeline

Legal & General Group Plc plans to buy back £500 million ($646 million) of its stock in 2025 as part of Chief Executive Officer António Simões’ plan to boost returns for shareholders of the UK insurer and asset manager.

The program is higher than last year’s £200 million as a result of less capital-intensive pension-risk-transfers and the sale of homebuilder Cala Group, L&G said in its annual earningsstatement on Wednesday.

Its pipeline for risk-transfers, where insurers take over liabilities from pension plans, remains “busy,” it said, adding that it’s “actively pricing” £17 billion of new deals, with visibility ...