Royal London Group

The Royal London Group (The Royal London Mutual Insurance Society Limited) is the UK's largest mutual insurance company, serving 3.1 million customers, with funds under management of £42.4 billion as at 31 December 2010.^[1]

The Royal London Group is made up of the following businesses;^[2]

• Ascentric - a wrap platform
• Bright Grey - offering life assurance and critical illness cover
• Royal London 360° - the international division of Royal London created by the merger of Scottish Life International and Scottish Provident International.
• Royal London Plus - administers policies for policyholders who took out policies originally Royal London, Refuge Assurance, United Friendly Insurance plc, and Phoenix Life Assurance Limited.
• Royal London Asset Management - manages assets for policyholders and external clients
• Royal London Retail - formerly Phoenix Life Assurance Limited.
• Scottish Life - specialising in pensions.
• Scottish Provident - offering individual like protectin products
• Caledonian - protection products

Takeover of Royal Liver

In February 2010, Royal London announced that they were in talks with Royal Liver over a possible acquisition.^[3] Royal London and Royal Liver agreed the terms and conditions in April 2011.^[4] The delegates of Royal Liver voted for the takeover at their AGM on 12 May 2011 and it was confirmed on 1 July that, having received all the relevant regulatory approvals, the transfer of Royal Livers assets and liabilities to Royal London has been completed.^[5]

References

1. ^ Royal London press release 4 May 2011
2. ^ Royal London website
3. ^ The Times - "Royal Liver in rescue talks with Royal London"
4. ^ Citywire - "Royal Liver agrees to Royal London takeover"
5. ^ Royal Liver press release - Delegates vote YES