Speaking to Bloomberg, Nigel Wilson, the Chief Executive Officer of Legal & General Group Plc, told how coronavirus may, ‘rather sadly,’ be of benefit to the business.
Mar.04 — Legal & General Group Plc Chief Executive Officer Nigel Wilson discusses the coronavirus and how it affects the insurer. He also discusses monetary and fiscal measures to counter the economic impact of the virus in an interview on “Bloomberg Markets: European Open.”
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Speaking on life insurance, Nigel Wilson said “we reinsure most of our life insurance. We’re more exposed to people living longer than expected,” – because of “our pension business.
He described this as “rather sad.” Many people will view it as a shame that a business can profit from older people’s deaths; even if they directly profit from it.
It is to be hoped that Governments don’t act on Covid-19 with such economic thoughts in mind.