46 Post balance sheet events
In February 2015 the group entered into an agreement to sell Legal & General International (Ireland) Limited (LGII), the group’s Dublin based offshore bond provider, to Canada Life. The sale is expected to conclude during Q1 2015. At 31 December 2014 LGII had £2.6bn of assets under administration.
In February 2015 the group entered into an agreement to acquire 100% of New Life Home Finance Limited, a UK based lifetime mortgage provider for a consideration of £5m. The acquisition is expected to complete in Q2 2015, subject to FCA approval, and will enable the group to offer lifetime mortgages as part of its retirement solutions.