News in brief - 6 August 2021

Legal & General (L&G) has entered a 15-year joint venture partnership with Natwest Group’s defined benefit pension scheme.

The duo will invest £500m of equity to build later living communities that will be developed and operated by Inspired Villages, which offers a variety of property types with the aim of helping older people to remain healthy and living independently for longer. The business was established by the Inspired management team and L&G Capital, L&G Group’s alternative asset platform, in August 2017. The joint venture has seen L&G sell a 50 per cent stake in its first 11 sites to NatWest Pension Trustee Limited (NWPTL) based on an enterprise value of £300m, allowing it to reinvest equity back into this fast-growing business and support its future pipeline.

Criterion has completed an industry collaboration project which has resulted in a revamp of the Retirement Health Form (RHF).

The RHF is meant to allow enhanced annuity providers to collect comprehensive information about prospective customers’ health just once, so that they can make informed decisions about enhanced annuity product applications. Criterion said it had harnessed its independent capability to co-ordinate efforts by annuity providers to redesign the form and enhance content based on the latest medical question requirements, the original form having been in existence for around a decade. The form was designed by Story, an Edinburgh-based award-winning creative communications agency.

Hymans Robertson has given over £200,000 to 55 different charitable organisations, both as a company and through the Hymans Robertson Foundation, over the past year.

The firm said its donations had helped more than 400 families and over 1500 individuals during the 12-month period, with a significant portion of this support stemming from a newly-founded charity hardship fund. This fund helped to provide essential support from food and care parcels, laptops and digital access, educational materials, counselling sessions to vital PPE, in partnership with charities across the UK. The firm also launched the Hymans Robertson Foundation bursary fund to support young people and continued its Secure Financial Futures programme.

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