Royal Liver and Royal London end discussions
Wednesday, 15 August 2007
The Boards of Royal Liver and Royal London today announce that discussions have been terminated in relation to a combination of the societies.
Since it was announced on 30 April 2007 that the societies were in discussions, the management and boards of both organisations have worked together constructively in examining the benefits of and structure for a combination of the societies.
After careful thought and thorough consideration, the Board of Royal Liver has concluded that although the proposal from Royal London had considerable merits for their members, they felt that those interests will be better served by pursuing an independent strategy.
- ENDS -
For further information please contact:
Royal London
Alasdair Buchanan
Group Head of Communications
Tel: 0131 456 7133
Mobile: 07919 170 413
Polhill Communications
Andrew Sharkey
Tel: 020 7655 0530
Royal Liver
For UK
Chris Salt/Laura Hickman
Tel: 0207 367 5222
HeadLand Consultancy
Tel: 07798 683114
For Republic of Ireland
Peter Mitchell
Tel: + 353 (0) 1299 9789
Business Talk
Tel: + 353 (0) 87 259 9814
Editor's Notes:
Royal London Group, is a specialist financial service provider. Its businesses focus on those sectors of the market which value premium propositions, operating through a number of brands:
- Scottish Life – UK pensions market
- Bright Grey – UK protection market
- Scottish Life International – offshore investment markets
- RLAM – fund management
- RLAS – life and pensions administration
Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £32.7 billion (as at 30 June 2007).Group businesses serve over three million customers and employ 2,570 people (as at 30 June 2007).
Royal Liver Assurance Limited is an incorporated Friendly Society founded in Liverpool in 1850 for the mutual benefit and financial security of local families. The principal activity of the Society is the transaction of long-term insurance business covering life and pensions in the United Kingdom and Republic of Ireland.