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Legal and General Group Plc. SWOT & PESTLE Analysis

ID : 52392753 | May 2018

COMPANY PROFILE - Legal and General Group Plc.

Business Sector : Financial services, Asset management

Operating Geography : United Kingdom, Europe

About Legal and General Group Plc. : The Legal & General Group, established in 1836, is one of the UK’s leading financial services companies. It was founded by Sergeant John Adams and five other lawyers in June 1836. The Group has a diversified product portfolio that includes general insurance, life insurance, pensions and investment management with presence in UK, USA, Gulf and Asia. It provides long term sustainable financial solutions which show economic and social value for the future; for the benefit of its shareholders, customers, employees, suppliers and society at large. As of 2018 it has £983 billion assets under management and £2.5 billion annual life insurance premiums.

Its mission statement states 'Our purpose is improving the lives of our customers, building a better society for the long term and creating value for our shareholders.'

Legal and General Group Plc. Revenue : £43,490 million (2017)

Competitive Analysis of Legal and General Group Plc.

The SWOT analysis for Legal and General Group Plc. is presented below:
Strengths
Weaknesses
1. Exquisite experiential learning
2. Extensive distribution
3. Well diversified product portfolio
4. Strategic acquisitions and mergers
1. Disengaged management
2. Mostly focused on UK market
3. Dependence on Distributors and Retailers
Opportunities
Threats
1. 360-degree feedback system
2. Growing Asia Pacific insurance market
3. Further expansion of product portfolio
4. Aging population in most of the countries
1. Economic crisis may impact financial organizations
2. Intense competitive rivalry

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Detailed SWOT Analysis of Legal and General Group Plc.

 

Strength

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Weakness

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Opportunity

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Threat

1. Economic crisis may impact financial organizations: During such a time, the likelihood of individuals disinvesting builds which straightforwardly influences the execution of insurance agencies. For instance in 2008 billions of individuals disinvested, bringing about the destruction of insurance and investment based organizations. Redundancy is one other major issue that many employees at Legal and General Group faced during the economic crisis.

2. Intense competitive rivalry: Stable productivity has expanded the number of players in the business over most recent two years which has put descending weight on margins as well as on sales.London is a worldwide center of money related administrations with a unique status as home to a profound and various protection segment serving nearby and global markets. New players, leveraging the benefits of complete digitization are also posing threat to existing players in the market.

The PESTLE/PESTEL analysis for Legal and General Group Plc. is presented below:
Political
Economical
1. Brexit impact
2. War and threat of terrorism
1. Fifth highest GDP of UK
2. Economic growth in emerging market
Social
Technological
1. Low insurance penetration in developing economies
2. Aging Population to increase pension demand
3. Health Care system in the UK
1. Advanced data analytics
2. Social media
3. Growing investments in Fintech
Legal
Environmental
1. Compensation culture and legislative changes
2. Change in tax laws and regulations
1. Global Warming increasing climate uncertainty
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Detailed PESTLE Analysis of Legal and General Group Plc.

 

Political

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Economic

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Social

1. Low insurance penetration in developing economies: There is very low penetration of insurance in developing economies. The major reason behind the low penetration is lack of enough socialization. In Emerging Asia, property insurance penetration is low at only 1.1% – just marginally over the figures for sub-Saharan Africa. In India, the Philippines, and Indonesia, insurance penetration is as week at around 0.5–0.6%. Contrasted with Asia’s developed nations with a general insurance penetration level of 2.4% – which is much similar to Western Europe – the US demonstrates an insurance penetration of about 3.3%.Till the time, Legal & General has its operations in UK, USA, Gulf and Asia Pacific these developing economies will offer a great market for Legal and General Group, for, there is a growing need of insurance and comparatively lesser penetration.

2. Aging Population to increase pension demand: The world's older population keeps on growing at an uncommon rate. As indicated by another report, “An Aging World: 2015” his rate is anticipated to bounce to almost 17 percent of the total populace by 2050 (1.6 billion). In such a case, an ever-increasing number of individuals will go for various sorts of pension schemes. It gives Legal and General Group an incredible chance to diverse in this area.

3. Health Care system in the UK: The UK healthcare framework is a standout amongst the best social ventures in the world. Public expenditure on wellbeing in the UK has customarily been high in order to be able to keep up the quality of the service provided. All residents of the UK, inhabitants of nations that belong to the European Economic Area (EEA) and inhabitants of nations which have reciprocal social insurance healthcare agreements with the UK are all eligible for National Health Service (NHS) care. Since Legal & General already provides its services in health insurance sector, the framework provides a great opportunity to L&G to diversify its product portfolio and serve more clients.

Technological

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Legal

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Environmental

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Check out analysis of other relevant companies

References used in Legal and General Group Plc. Analysis Report

1. https://seekingalpha.com/article/4024650-legal-and-general-group-lggny-investor-presentation-slideshow

2. https://seekingalpha.com/article/4098819-legal-and-general-groups-lggnf-ceo-nigel-wilson-q2-2017-results-earnings-call-

3. "Legal & General buys 3 billion pound UK annuity portfolio from Aegon". Reuters. 23 May 2016.

4. "L&G agrees £62m deal for Suffolk Life". www.professionaladviser.com. Archived from the original on 14 March 2012.

5. 'Hundreds' could lose jobs in Legal and General Kingswood closure". BBC

6. https://www.legalandgeneralgroup.com/about-us/history/

7. https://www.legalandgeneralgroup.com/about-us/what-we-do/

8. https://www.legalandgeneralgroup.com/about-us/our-management/group-board/

9. https://www.legalandgeneralgroup.com/media-centre/press-releases/

10. https://www.legalandgeneralgroup.com/media-centre/blogs/

11. https://www.legalandgeneralgroup.com/media-centre/in-the-news/

12. "Dr Nigel Wilson: Directorate Change (Group Chief Executive)". Legal & General Media Centre.

13. "The Glasgow Herald - Google News Archive Search". news.google.com.

14. "L&G expands risk transfer business to mainland Europe with €200 deal". Professional Pensions. 16 December 2015.

15. "BlackRock dominates as LGIM joins 10 largest managers"

Copyrights and Disclaimer

Legal & General Group Plc. SWOT and PESTLE analysis has been conducted by Sonal Yadav and reviewed by senior analysts from Barakaat Consulting.

Copyright of Legal & General Group Plc. SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.