Legal & General has combined its insurance and retail retirement businesses, in an overhaul that will take effect in the New Year.
Bernie Hickman, CEO of L&G Insurance (LGI) for the past five years, will now become CEO of both LGI and L&G Retail Retirement (LGRR). He will lead L&G in bringing both businesses closer together. L&G says it will be better positioned to expand its retail and workplace operations due to Hickman’s promotion as both businesses serve retail clients and have a single interface for retail clients.
As CEO of LGI, Hickman has revamped the insurance operations and has built a portfolio of fast-growing fintech companies by combining digital and data-driven strategies. Hickman has been with L&G for 23 years, serving as individual retirement managing director, CEO co-founder of LGHF, retail protection managing director, group financial controller and solvency II managing director.
Additionally, Andrew Kail has been appointed as CEO of L&G Institutional Retirement (LGRI) following Laura Mason’s promotion to CEO of LGC. Kail’s industry background and institutional experience as head of financial services at PwC will complement the LGRI leadership team’s existing strengths, says L&G.