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Chris Demarco
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Chris Demarco

Managing Director, UK Pension Risk Transfer

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At a glance

Full Name
Chris DeMarco
Title
Managing Director of Strategic Accounts and New Markets
Firm
Legal & General
Firm Type
Financial services group; institutional retirement and pension risk transfer insurer
Target Company Profile
Defined benefit pension schemes, trustees, sponsors, and advisers evaluating pension risk transfer, buy-in, buyout, longevity insurance, or related de-risking solutions
Sector Focus
Pension risk transfer, bulk annuities, institutional retirement, longevity risk, insurance, investment risk management, sustainability in pension buy-outs
Geographic Focus
UK pension risk transfer market, with career experience covering clients and sales teams in Europe and North America
Location
London, England, United Kingdom

Background

Chris DeMarco is a senior Legal & General executive in the firm’s Pension Risk Transfer business. Legal & General’s current PRT team page lists him in senior management as Managing Director of Strategic Accounts and New Markets. Public sources do not verify the stub’s classification of him as a seed-stage angel investor; the verified record points instead to institutional retirement, pension risk transfer, and financial-services leadership.

DeMarco joined Legal & General in 2013 and held leadership roles in Legal & General Investment Management before moving to Legal & General Retirement in 2017. Legal & General announced on 19 January 2017 that he had been appointed Managing Director of UK Pension Risk Transfer after serving as Head of Institutional Client Management at LGIM.

Before Legal & General, DeMarco worked in investment consulting and spent 23 years in investment banking covering clients and running sales teams in Europe and North America. Public profiles name prior roles including Partner at Aon Hewitt, Managing Director at HSBC, Managing Director in Fixed Income at Credit Suisse First Boston, and an earlier derivatives sales role at Salomon Brothers.

Trekstock’s trustee profile says DeMarco has a BSc in economics from the Wharton School, University of Pennsylvania, and more than 35 years of industry experience. The Org and The Official Board list his Wharton degree as a Bachelor of Science in Finance completed in 1987.

Investment Thesis & Focus

  • No verified public evidence was found that DeMarco is an active seed-stage angel investor or publishes a startup-investing thesis.
  • His verified focus is pension risk transfer: helping defined benefit pension schemes transfer risk to insurers through buy-ins, buyouts, longevity insurance, and related structures.
  • He has emphasized preparation and timing in PRT transactions: “schemes who engage insurers early, have flexible timeframes and have prepared thoroughly” are best positioned to transact.
  • He has framed the broader PRT objective as freeing companies from legacy pension obligations while protecting members’ retirement income.
  • He has spoken publicly on sustainability in pension buy-outs, including a 23 April 2025 Society of Pension Professionals event on buy-out providers’ sustainability and investment credentials.

Notable Investments

  • Pearson Pension Plan: Legal & General completed a c.£600m buy-in in 2017 covering around 2,400 members; DeMarco was quoted as Managing Director of UK PRT.
  • Pearson Pension Plan follow-on: Legal & General completed a c.£0.5bn buy-in in 2019 covering approximately 2,200 current pensioner members, using pre-agreed “umbrella contract” terms from the 2017 transaction.
  • Howden Group Pension Plan: Legal & General completed a £230m full-scheme buy-in in 2019 for the Colfax Corporation-linked plan, following a previous £250m transaction for another UK Colfax scheme.
  • Streamlined longevity insurance contract: Legal & General completed a c.£300m longevity insurance contract in 2018 for an unnamed mid-tier pension scheme, described as an entry into the longevity insurance market for smaller schemes.
  • March 2020 PRT transactions: Legal & General completed eight UK and US PRT transactions in March 2020, securing £261m of pensioners’ benefits, with individual deals ranging from about £2.2m to £80m.

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