Insurance firm Legal & General adopts Amazon’s blockchain for pension deals


Legal & General, a multinational British insurer, has partnered
with Amazon to create a blockchain system for corporate pension
deals. According to Reuters, Legal & General will be using
Amazon Web Services’ managed blockchain system to process bulk
annuities – benefit pension schemes sold by companies to insurers
in a bid to mitigate risks for policy holders. Thomas Olunloyo, CEO
of Legal & General Reinsurance, said blockchain suited “the
long-term nature of annuities business as it allows data and
transactions to be signed, recorded and maintained in a permanent
and secure nature over the lifetime of these contracts, which can
span…


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Source: FS – All Tech News
Insurance firm Legal & General adopts Amazon’s blockchain for pension deals