Legal & General (L&G) has been handed the Investment innovation of the year award in recognition of its development of a private credit platform for a UK-based general insurer, which offers access to diversified private credit exposure through a capital-efficient, flexible, and scalable structure.

The firm developed a multi-asset strategy spanning investment grade and sub-investment grade private credit, enabling stable, risk-adjusted returns while maintaining alignment with the client's solvency and duration objectives.

The solution also provides a single point of integration across origination, structuring, and portfolio management.

Central to L&G's efforts was capital efficiency. The platform's structure is flexible and scalable, allowing insurers to optimise their business under Solvency II requirements, manage currency and accounting considerations, and access diversified exposure without compromising on regulatory compliance.

L&G's Multi-Manager Solutions Team ensured seamless execution of the project, coordinating both L&G and the firm's affiliate Pemberton's capabilities under a unified governance and reporting framework.