Royal London Mutual Assurance Society hopes to acquire Scottish Life in a deal worth £1.1 billion ea...
Royal London Mutual Assurance Society hopes to acquire Scottish Life in a deal worth £1.1 billion early in July.
The deal is hoped to be announced in the first week of July after it receives court session approval, and would see the predominantly direct sales-led company take over Scottish Life in a bid to break into the IFA market. Both companies stress they will initially retain their own name and individual products.
Craig Muir, senior marketing analyst at Scottish Life, said: 'Initially, we will not be changing in any way. The brand name of Scottish Life will continue and all the products we currently offer to IFAs will continue.
'We will have new products eventually, but as yet, we have not discussed what they will be. We will stay 100% IFA-based, and Royal London will still be predominantly in the direct sales market, although we cannot rule out a rebrand in the future'
