Our purpose.

Our purpose.

Our customers rely on us, whether its protecting against unforeseen circumstances, helping to save for retirement or investing money wisely so that it grows over time. We promise to continue to deliver what really matters to help millions of people manage their financial future. This is our social purpose: understanding people’s financial needs, pooling risk and helping society by reducing the pressure on public finances. It demonstrates that we do the right thing and it sits at the heart of our business and is expressed through Every Day Matters.

HEALTH

Health | Jimmy Atkins, CEO LGA, showing a banknote to an elderly woman (photo)
“In the US, the UK and wherever we offer insurance, the State can’t always be relied on to pick up the pieces if a breadwinner is no longer there to support their family. Our life insurance provides the funds to enable family members to carry on without their loved ones.”
JIMMY ATKINS, CEO LGA

Our recent ‘Deadline to the Breadline’ report showed that the median amount that UK households have saved is just £1,010. We calculated that the average UK household had savings which would last just 26 days without a regular income. This means that within four weeks, without protection, they would need to rely on the state or friends and family for financial support.

UK LIFE PROTECTION CLAIMS PAID

£717m

(2012: £694m)

PENSIONS

Pensions | John Pollock, CEO LGAS, playing the guitar (photo)
“Our social purpose means we aim to do the right thing for our customers. We think it’s the right thing to cap pension charges for people who are saving for a pension for the first time and extend this to existing customers. We want to help people build retirement savings and reaching one million workplace customers is a major testament to our beliefs.”
JOHN POLLOCK, CEO LGAS

We’re a market leader in auto-enrolment, with over one million members of workplace schemes, the UK’s largest investment manager for pension schemes, with over 2,800 schemes and a provider of £1.9 billion of annuity income. We want to ensure that the UK pensions industry provides value for money to consumers.

PENSION FUND ASSETS MANAGED BY LGIM

£304bn

(2012: £266bn)

HOUSING

Housing | Paul Stanworth, Managing Director LGC, visiting a construction site (photo)
“We need an innovative approach to housing, where there’s been a slow decline in homebuilding since the 1970s. Millions of young people have been priced out of the home buying market, while ‘last time buyers’ have limited access to suitable housing.“
PAUL STANWORTH, MANAGING DIRECTOR LGC

We aim to provide the capital to stimulate the building of new homes. We’re also one of the UK’s largest mortgage intermediaries, arranging £28 billion in mortgages in 2013 and paying out over £132 million in household insurance claims. We are also working with English Cities Fund on a major regeneration project for Salford, in a scheme which is planned to deliver 849 new homes.

INFRASTRUCTURE AND DIRECT INVESTMENTS

£5.2bn

Organisations we work with

Logos of Shelter, We are Macmillan, age UK, British Heart Foundation (top from left to right), HelpAge India, Tax Volunteers, ILC and Samaritans (bottom from left to right) (logo)

What do you think about this report?

Even though this feedback form is on every page, you only need to fill it out the once.