Legal & General: The First Of Deep Dives

Legal & General (LGEN, LGGNY, LGGNF) has just published a “deep-dive” presentation of its Institutional Retirement segment.

I cannot resist returning to this company for a specific material reason. Several days ago, I published a story about how Apollo Global (APO) transformed life insurance. Those who figured it out early have been well rewarded. On Dec 6, APO was added to the S&P 500 index, so rewards keep coming...

In early 2023, I realized that F&G Life and Annuities (FG) was cloning Athene (Apollo’s life insurance subsidiary) with some variations. Meanwhile, FG was still valued in line with other life insurance companies. Guess what: the stock had more than doubled within about a year.

Now, in its own way, LGEN is attempting to replicate the same winning strategy. And the rewards may be big again.