Legal & General sale of Dutch retail unit possible in 2016, as company sheds non-core businesses after last year's disposals of Egypt and Ireland ventures

Hayley Kirton
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Netherlands v Japan: Group E - 2010 FIFA World Cup
Legal & General disposed of businesses in Egypt and Ireland last year (Source: Getty)

Legal & General is mulling over the decision to sell its Dutch retail business.

The financial services giant is considering a sale in 2016 as part of a wider plan to leave non-core businesses.

In November last year, Legal & General, which is headquartered in London and had 10m customers worldwide at the end of 2014, announced that it had completed the sale of its life insurance joint venture in Egypt to Axa. Earlier in the year, Legal & General disposed of its Ireland branch to Canada Life.

Meanwhile, in July last year, the company also disclosed that it had entered exclusive negotiations to sell its French business to French-based health insurance company APICIL.

Legal & General declined to comment on the potential sale of the Dutch unit, which was first reported in the Sunday Telegraph.

Last month, the pensions and insurance company announced that it would be ceasing quarterly reporting, revealing that it would be opting for more timely updates that would better communicate the long-term goals of the company.

Meanwhile, in November last year, John Stewart, who has been chairman of Legal & General Group since 2010, revealed that he intended to retire in 2016.

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