Legal and General Group SWOT Analysis, Competitors & USP

Published by MBA Skool Team, Last Updated: April 26, 2020

SWOT analysis of Legal and General Group analyses the brand by its strengths, weaknesses, opportunities & threats. In Legal and General Group SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.

SWOT Analysis is a proven management framework which enables a brand like Legal and General Group to benchmark its business & performance as compared to the competitors. Legal and General Group is one of the leading brands in the banking & financial services sector.

The article below lists the Legal and General Group SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Legal and General Group SWOT Analysis:

SWOT Analysis of Legal and General Group

For Legal and General Group, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.

Legal and General Group Strengths

The strengths of Legal and General Group looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Legal and General Group :

1. Strong market position in the UK financial services industry
2. Multi-channel distribution capabilities increasing market penetration and enhances revenues
3. Comprehensive product portfolio insulating business risk
4. Customer base of around 7 million

Legal and General Group Weaknesses

The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Legal and General Group SWOT Analysis:

1. Revenue susceptible to investment market volatility
2. High concentration on the UK market increasing business risk
3.Competitive industry – Need to continuously stay ahead of competitor offerings


Legal and General Group Opportunities

The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Legal and General Group SWOT Analysis:

1. Expansion of business protection insurance likely to increase revenues
2. Positive outlook of asset management industry
3. Opportunities in growing Asia-Pacific insurance market

Legal and General Group Threats

The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Legal and General Group are as mentioned:

1. Delay in Solvency II implementation could double compliance costs
2. Insurance frauds likely to increase claim losses
3. Weak outlook for equity markets could put pressure on industry capital position


Legal and General Group Competitors

There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Legal and General Group:

1.AXA
2.Prudential Plc
3.RBS Insurance

Hence this concludes the Legal and General Group SWOT analysis.

Continue reading more about the brand/company.

About Legal and General Group

Legal and General Group Overview
Parent Company

Legal and general group

Category

Health care

Sector

Banking & Financial Services

Tagline/ Slogan

Every day matters

USP

We are helping you plan and build your future

Legal and General Group STP
Segmentation

Financial services

Target Market

Investment management, risk, savings, international, and group capital and financing

Positioning

The business is built on financial strength and a diverse business spread that makes the company one of the leading financial services companies.


This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

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