Nigel Wilson, Legal & General Group CEO said: “Cheryl has done a terrific job leading the UK Strategic Pension Risk Transfer Team. We’re the global leaders in pension de-risking, and Cheryl has played a major role the division’s success. She’ll be a great CEO for the General Insurance business, and I look forward to working with her as we help the business realise its full potential.”
Cheryl Agius, Legal & General General Insurance CEO said: “The general insurance business has an excellent franchise in the market for great products and customer service. Our strong presence in the housing market, combined with our value proposition and trusted brand, means we’re ideally placed to grow the business as the market continues its moves to digital.”
Legal& General’s General Insurance award winning products are distributed through 15 banks and building societies. In 2015 the business wrote over £1.7 billion in gross written premiums. It has recently agreed four, five year distribution partnerships, including the Coventry, Skipton and Principality Building Societies, which should in aggregate increase 2017 gross written premiums by £30 to £40 million.
Cheryl Agius was previously the Head of the UK Strategic Pension Risk Transfer Team, and as a member of the division’s senior leadership team, played a major role in the record £6.9 billion of annuity sales achieved year to date. In 2015 her team secured the largest medically underwritten transaction in the UK, with Kingfisher for £230 million. In 2014 she established the US Pension Risk Transfer business, building out the in-house pension administration capabilities, and completing its first landmark deal in 2015 with $450million of pension obligations covering 14,000 lives. Cheryl joined Legal & General in 2011, has over 20 years’ experience in the pensions and insurance industry, and is a Fellow of the Institute of Actuaries.
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