Legal & General to enter international bond market

Legal & General has announced that, subject to regulatory approval, it is launching a new international life company later this year.

Based in Ireland, Legal & General International (Ireland) Limited will initially sell an International Pooled Portfolio Bond targeted at UK investors. The move follows Legal & General’s launch last year of its highly successful open architecture products Portfolio Bond and Portfolio Plus pension.

Simon Pistell, Legal & General’s Managing Director, Individual Wealth said; “The gross of tax market has grown considerably in recent years and, with the development of open architecture products in both the UK and international markets, the time is now right for us to move into this arena. The addition of an international bond to our product range will also strengthen our wealth proposition for High Net Worth investors”.

The move is planned for delivery into the UK market in the second half of this year.