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Royal London in talks to acquire Co-operative Financial Services’ life and asset management businesses |
Royal London, the UK's largest mutual life and pensions company, has announced that it has entered into exclusive talks with Co-operative Financial Services (CFS) to acquire its life assurance and asset management businesses, representing around 2 million policyholders and £20 billion of funds under management. Mike Yardley, Group Chief Executive of Royal London, said: "Over the past decade, the Royal London Group has grown significantly and profitably, through successful acquisitions as well as by organic growth. I believe the opportunity we are discussing with CFS has the potential to deliver another major step forward for Royal London, with real benefits for our members and other policyholders." Stephen Shone, Group Finance Director at Royal London, said: "This potential transaction involves two like-minded companies which share a mutual focus on the long term interests of members and customers. We believe that the transaction we are discussing makes good financial and strategic sense for both businesses, and will help ensure that CFS policyholders continue to be well looked after." Following the strategic review by CFS of its life and savings business, Royal London and CFS have agreed a non-binding Memorandum of Understanding. Talks will continue between the companies while detailed due diligence is completed. A further announcement will be made when discussions have been concluded. Any transaction that might ultimately be agreed between Royal London and CFS would be dependent on regulatory approval. No approval in principle has been requested or given. |
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Director - Pensions / Investment | ||
Flexible / hybrid / fully remote - Negotiable |
Senior Pensions Consultant | ||
Flexible / hybrid with minimum 2 days p/w office-based - Negotiable |
CONTRACT (6 months): Liquidity Risk M... | ||
Midlands / hybrid with 2-3 days office-based - Negotiable |
Senior Actuarial Analyst - Reinsuranc... | ||
London / hybrid with 2 days p/w office-based - Negotiable |
Actuarial Pensions Technician | ||
Midlands - Negotiable |
CONTRACT (12 months): Life Actuarial ... | ||
Scotland or Midlands / hybrid with 2 days p/w office-based - Negotiable |
FTC (9 months): Liquidity Risk Manager | ||
Midlands / hybrid with 2-3 days office-based - Negotiable |
Liquidity Risk Actuary | ||
Midlands / hybrid with 2-3 days office-based - Negotiable |
Planning Actuary - Life | ||
Midlands / hybrid with 2-3 days office-based - Negotiable |
Senior Financial Reporting Actuary | ||
Bermuda - Negotiable |
Senior Life Actuarial Analyst | ||
London / hybrid with 2 days p/w office-based - Negotiable |
Senior Project Actuary - Life | ||
Flexible / hybrid with minimum 2 days p/w office-based - Negotiable |
Pricing Manager - General Insurance | ||
South West / hybrid with remote-first approach - Negotiable |
DC Investment Expert: Sales & Consult... | ||
London - Negotiable |
Senior Manager - DC/DB Pensions | ||
Flexible / hybrid with a minimum of 2 days per week office-based - Negotiable |
ALM Consultant | ||
Flexible / hybrid working with minimum of 2 days p/w office-based - Negotiable |
Pricing Actuary | ||
Flexible with hybrid working - Negotiable |
Associate Director - Pensions / Inves... | ||
Flexible / hybrid / fully remote - Negotiable |
Pricing Actuary | ||
London - £120,000 Per Annum |
Reporting Actuary Manager | ||
Flexible - 1 Day Week in Bristol or Edinburgh Office - £65,000 to £85,000 Per Annum |
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