Belfast Telegraph

Legal & General acquires Lucida

Legal & General is boosting its business with the £151m acquisition of a firm which manages the annuity funds of pensioners. Lucida runs £1.4bn of annuity assets and has 31,000 pensions on its books. L&G said the purchase price will be funded from surplus capital, but synergies from the merger would reduce the net price to around £85m.

Legal & General is boosting its business with the £151m acquisition of a firm which manages the annuity funds of pensioners. Lucida runs £1.4bn of annuity assets and has 31,000 pensions on its books. L&G said the purchase price will be funded from surplus capital, but synergies from the merger would reduce the net price to around £85m.

Belfast Telegraph

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