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

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.

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