Legal & General (L&G)’s retail arm rolled out a new role and dropped Donna Cowell right into it as head of reinsurance, U.K. protection. Short title, big remit.
She swings between the retail and group protection teams to shape a unified reinsurance strategy that actually works in the wild, not just on a slide deck.
Her job reaches deeper than coordination. She helps steer L&G’s broader protection strategy while teaming up with reinsurers to squeeze more value out of the company’s risk expertise, data depth, distribution strength and long lived market knowledge.
According to our analysts, that blend matters because reinsurers rarely ignore strong data discipline.
Cowell brings almost 25 years in financial services. She’s a qualified actuary, sharp and seasoned.
She arrives from Willis Towers Watson, where she served as a director in the life insurance consulting and technology unit, getting deep into protection and reinsurance work. Proper background for this gig.
A side note with weight. In October, Legal & General Assurance Society completed the largest UK pension risk transfer of the year, a £4.6 bn deal with two Ford Motor funds.
The pace of those transactions shows no signs of slowing, and Cowell steps into her new role as that momentum keeps rolling.
ith the recent creation of the UK Protection Reinsurance team, Donna’s appointment represents L&G’s ongoing commitment to delivering a joined up, effective and resilient reinsurance offering across both our Retail Protection and Group Protection businesses.
James Shattock, Managing Director, UK Protection, L&G
“We are delighted to welcome her to lead what is an essential part of our protection proposition.”
Donna Cowell, Head of Reinsurance, UK Protection, L&G: “I’m excited to be leading the Reinsurance team across L&G’s UK Protection offering. I’m looking forward to collaborating with L&G’s highly skilled team and our partner reinsurers to implement a robust and industry-leading reinsurance strategy, delivering great value for our customers.”
Legal & General announces two senior appointments further strengthening its leadership team as it drives forward its ambitious growth strategy as a simpler and better-connected business.
Emma Holden has been appointed as Chief People Officer and will lead on people strategy, ensuring the company has the right capabilities and culture to support its future growth. She will report to CEO António Simões and will be a member of L&G’s Group Management Committee.
Emma brings deep experience in people leadership, with a particular focus on talent, culture and inclusion. She is currently Chief People Officer at Man Group and has almost two decades of senior people leadership, including 17 years at Schroders in various positions across HR, Communications and Investor Relations. Emma Holden’s appointment is subject to regulatory approval.
I am delighted to be joining L&G at such an exciting time for the business. I have been hugely impressed by the people I’ve met, and by the company’s purpose-driven culture. I look forward to working with António and the wider team to help shape the next stage of L&G’s growth.
Emma Holden, Chief People Officer designate
Andy Sinclair has been appointed Chief Strategy and Investor Relations Officer. He will report to CEO António Simões and will be a member of Andrew Kail’s CFO leadership team.
His appointment builds on the strong foundations already in place, further enhancing L&G’s strategic and investor relations capabilities and helping to sustain momentum and focus on long-term performance. L&G’s Group Strategy and Investor relations team will report into Andy.
Andy is currently Managing Director and Head of the European insurance team at Bank of America Securities. He brings nearly two decades of actuarial and analyst experience across the insurance and finance sectors, including at Bank of America and Standard Life. He is a Fellow of the Institute and Faculty of Actuaries.
I’m very pleased to join L&G – a business I’ve followed closely for many years and greatly admire. L&G has a strong execution track record and meaningful long-term purpose. I look forward to working with António, Andrew and colleagues across the Group to help build on our strengths.
Andy Sinclair, Chief Strategy and Investor Relations Officer designate
Both Emma and Andy start in their roles at the end of January 2026.
Established in 1836, L&G is a leading financial services group and major global investor.
