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Who we are

We're the U.S. insurance division of Legal & General Group — leveraging the expertise of a top ten global insurer and backed by a financial powerhouse.

Our history

Our parent company, Legal & General Group Plc, is one of the world’s leading multinational financial services companies – and has been since 1836. Headquartered in London, the firm has over $1.4 trillion in total assets under management as of June 2019. Legal & General’s footprint spans the U.S., Europe, Middle East and Asia.
Legal & General serves more than 10 million customers globally with life insurance, pensions, investments and general insurance plans. Together with our parent company, we’re proud to be the eighth-largest insurer in the world according to A.M. Best's 2018 report.

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$21B economic and social investments

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Top 10 global asset manager

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10M worldwide customers

Our parent company

We’re leveraging the expertise of a top global insurer, Legal & General Group (L&G). We come from a long line of good global and corporate citizens. Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with international businesses in the US, Europe, Middle East and Asia. L&G has invested over $21 billion pounds in homes, urban regeneration, clean energy and small business finance.

Our story begins over 180 years ago

In 1836, six respected lawyers met in a London coffee house where life insurance was the topic of discussion. They decided to form an association, eventually named Legal & General Life Assurance Society. Those founders had the same attitudes toward innovation and risk taking as those which characterize the Legal & General Group (L&G) today. The financial skills of those six lawyers laid the foundation for L&G's worldwide business.

Our Group headquarters is in London, but Legal & General is expanding its presence outside of the United Kingdom. The U.S. operations now include investment management; pensions risk management as well as providing life insurance. In the U.K., we're the leading provider of life insurance, investment management for corporate pension plans and pensions buyout services. Our long history not only demonstrates our credibility, but shows our experience in every kind of economic climate. Legal & General Group currently has over 10 million customers for life insurance, pensions, investments and general insurance plans and have over 3,000 institutional clients.

Legal & General America is born

L&G formed Legal & General America (LGA) as a holding company in 1981, and bought Government Employees Life Insurance Company (GELICO) and its NY affiliate. The GELICO name changed to Banner Life in 1983. William Penn was purchased by Legal & General Group Plc as a wholly-owned subsidiary of Banner Life Insurance Company in 1989. While Banner Life and William Penn remain the companies that underwrite and issue our policies, we go to market under a single name, Legal & General America.

Our timeline

1981: Legal & General Group forms Legal & General America to serve American customers directly and buys Government Employees Life Insurance Company (GELICO) and its NY affiliate. 

1982: The GELICO name is changed to today’s Banner Life Insurance Company.

1989: Legal & General Group buys William Penn (whose parent company is Banner Life Insurance Company). 

Present Day: Banner Life and William Penn are still the companies underwriting and issuing our insurance policies but work together under our Legal & General America umbrella.


Learn more

By the numbers

In insurance, numbers matter. You need to know your life insurance company has the financial backbone in place to support you if and when you need them.

Here are some questions to consider when shopping around for life insurance:

  • Does this carrier have its finances in order?
  • What does their financial health look like? Hint: look at ratings agencies like Fitch, Moody’s, S&P & A.M. Best
  • Have they been around long enough for me to trust them with my family’s financial future?

What does trust look like in the insurance industry?

Trust translates to a provider who is financially stable, customer-centric and highly experienced. We're proud to have over 20 years as a term-pricing leader creating consistency and predictability. 

Learn more about our financial strength

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Fostering creativity

Our executive officers and board of directors work together to promote robust talent management and support our culture of collaboration, innovation, diversity and inclusion. Under their leadership, we’ve proudly been named a Great Place to Work for the past three years and counting.Find out more