View more on these topics

Royal London in talks to acquire Royal Liver

Royal London is in talks to buy Royal Liver two years after the Liverpool-based insurer rejected a merger deal.

A Royal London spokesman has confirmed that discussions are taking place between the two firms but says they are at an early stage.

The news follows talks between LV= and Royal Liver last autumn about a potential merger. The Mail on Sunday reports that these discussions broke off after LV= could not give assurances about the future of Royal Liver’s Irish operations if a deal went ahead.

The talks are thought to have been spurred on by the FSA’s investigations into the mutual sector and concerns regarding the capital adequacy of smaller mutuals. Last October, the FSA sent out a Dear CEO letter to mutual insurers with with-profits funds about the use of member assets. Any deal would have to be approved by Royal Liver’s 200-stong committee of elected members.

The Mail on Sunday also reports that the FSA is poised to take enforcement action against Royal Liver’s handling of the wind-up of its IFA arm Park Row.

In March last year, Money Marketing revealed that Park Row was being investigated by the FSA as part of a review of its systems and controls.

Royal Liver attempted to sell off the loss making arm of the business but could not find any buyers and Park Row was wound down late last year.

Since then former Park Row advisers have suffered long delays getting reauthorised by the FSA.

Recommended

Niall Shaw: Director 2020 Adviser
1

2020 vision

Niall Shaw believes that the industry needs to rebuild trust with its customers and has developed financial planning software which it believes can help that process as well as create best-of-breed offerings

1

FSA must be vigilant on lending rules

The FSA has clearly indicated its intention to press ahead with reforms to mortgage regulation after publishing its recent consultation paper. In terms of arrears handling, the proposals seem to do little more than seek to enshrine into rules what would be existing best practice for most firms. Of course, experience has shown that some […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Andrew Cummins 7th May 2010 at 2:02 pm

    Royal Liver is a massive organisation, and should remain due to very satisfied customers. Any reports or rumours of foul play are not the fault or the responsibility of Royal Liver, and it’s employees at the Pier Head provide a very advantageous and constructive service to policy holders. I know this because I’me there every day, I know what comes out of people’s mouths, and I never hear anything that disgraces Royal Liver’s reputation whatsoever. At the Pier Head, there is a very strong bond and working relationship amongst it’s hard working and dedicated staff, and the various team efforts to provide professional and adequate service to customers is nothing short of excellent, helpful and constructive.

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com