Parkers and Whitegates, to Martin & Co for £6 million. In 2014, the company formed Legal & General Reinsurance, a Bermudian-based reinsurance company. Legal & General Re completed its maiden external transaction in the Dutch market in cooperation with ASR in December 2015. In May 2016 Legal & General Assurance in the UK bought the £3 billion UK annuity portfolio of Aegon. In 2019 following earlier speculation, the company agreed the sale of its General Insurance division, Legal & General Insurance, to Allianz Insurance, the latter making a simultaneous purchase of the remaining 51% share of Liverpool Victoria General Insurance (LV=) of which it already owned 49%. The acquisition took effect on 1 January 2020, at which time Legal & General Insurance’s holding company was renamed Fairmead Insurance. The existing policies will be merged into Allianz Insurance's subsidiary LV= under one expanded business. Legal & General's Birmingham office became an LV= site. Also in 2019, the company acquired a 13% investment in the electric vehicle charging point operator, Pod Point. Operations The company offers a wide range of products and, in addition to its direct sales service and brokerage agreements with numerous tied agents and independent financial advisers. It also owns Cala Homes. Legal & General supports institutional pensions, has a large investment arm (Legal & General Investment Management) and holds significant investments in socially responsible businesses from green energy to science parks and affordable housing. Senior management In the 1970s and early 1980s, Ron Peet (1925–2020), a socially-conscious actuary, was CEO of Legal & General, having previously headed its Australian operation. Peet helped the campaign for Thalidomide children, Legal & General then owning a large bloc of shares (3.5 million) in Scottish drinks and pharmaceutical company Distillers. Sir David John Prosser (1944–2020), a Welsh businessman, was the CEO from 1991 to 2005 and is credited with overseeing a period of significant growth in the business. He was followed by Tim Breedon, who became CEO in January 2006. After that Sir Nigel Wilson (the previous CFO) became Group Chief Executive on 30 June 2012. Arms References External links Legal & General Group Plc – official company page Financial services companies established in 1836 British companies established in 1836 Insurance companies of the United Kingdom Companies listed on the London Stock Exchange Financial services companies based in the City of London Life insurance companies of the United Kingdom 1836 establishments in