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Norwich Union and Royal London in insurance tie up

Norwich Union and rival life office Royal London are in talks about a partnership deal which would transfer Royal&#39s general insurance business to NU, according to today&#39s Financial Times.


The report says Royal would hand over its 200,000 general insurance policyholders, receiving commission and a share of the profits in return.


If an agreement is reached, Royal will continue to market and identify new customers, while NU will take on the sales, underwriting, claims and customer servicing.


The business is expected to be transferred by December 1.

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