Legal & General strengthens its retail retirement business


Steve Ellis appointed CEO of Legal & General Retail Retirement Living Solutions and Claire Singleton appointed as CEO of Legal & General Home Finance. 

Legal & General today announced the appointment of Steve Ellis as CEO of Legal & General Retail Retirement Living Solutions. This new role reflects Legal & General’s commitment to tackling the challenges facing customers financing and living in retirement in the UK. Claire Singleton, currently CEO of Legal & General’s Mature Savings business, will succeed Steve Ellis as CEO of Legal & General Home Finance.

Steve and Claire will report into Chris Knight, CEO of Legal & General Retail Retirement. Steve will start his new role at the beginning of April and Claire will take up her post at the end of the year following the completion of the transfer of the Mature Savings business to ReAssure, part of the Swiss Re Group. Claire’s appointment is subject to regulatory approval. Chris Knight will manage Legal & General Home Finance in the interim period.

Legal & General Retail Retirement Living Solutions will focus initially on helping customers find and fund the care they need for themselves or their elderly relatives. At the heart of this is our investment in Care Sourcer, a platform provider bringing digital efficiencies to the care market. Its ground-breaking pilot with Gloucester NHS Trust proved that better care matching technology can address nearly half (47%) of delayed discharge cases by matching people with care providers within 48 hours, providing value for money to users, Local Authorities and the NHS. Steve joins the Board of Care Sourcer and will work with the existing Executive Team lending his expertise in scale and disruption.

Claire and Steve have done great jobs in Mature Savings and Legal & General Home Finance. We want people to achieve longer, happier, healthier lives in retirement, but finding and funding care is the elephant in the room, it is a broken market that needs to be fixed. This is precisely the kind of challenge where Legal & General’s inclusive capitalism, our brand and balance sheet can make a difference.

Nigel Wilson, Group CEO of Legal & General said, “Leading Legal & General Home Finance since inception has been a real privilege – it is well positioned for the future. Legal & General deploys our financial strength positively to deliver exceptional value to customers, shareholders and broader society. I am looking forward to the part we can play in resolving the issues in UK care funding and provision.

Claire Singleton said, “I am excited about joining Legal & General Home Finance later this year and look forward to leading the business in its mission to be the mortgage lender of choice for the over 55s in the UK market. My current focus is on achieving a successful completion of the transfer of the Mature Savings business to ReAssure who will be an excellent steward of the business. As well as providing a smooth experience for our customers, my team and I are committed to supporting our employees through this transaction.