Royal London welcomes Pearl’s acquisition of Resolution

Royal London is breathing a sigh of relief over the final stage completion over Pearl’s acquisition of Resolution.

It says while nothing will change immediately in terms of IFAs dealing with their clients, the move is welcomed.

Group chief executive Mike Yardley says: “Today marks the start of the final phase of Royal London’s acquisition of some of the Resolution businesses and assets from Pearl.

“At an operational level, nothing is changing at the present time.  Advisers and policyholders will continue to deal with their usual contacts in the businesses that are transferring, notably Scottish Provident International and the protection business of Scottish Provident. Similarly, it is business as usual for Bright Grey and Scottish Life International, within Royal London Group.

“Over the next few weeks we will be working closely with Pearl to separate the parts of Resolution that will be transferring to Royal London from those that will remain with Pearl.  We will be focussed on ensuring the transition is as smooth as possible for everyone concerned.”

Royal London has confirmed the businesses being acquired are the protection businesses of Scottish Provident and Scottish Mutual Assurance, including the policies in force, Phoenix Life Assurance – formerly Abbey National Life and Isle of Man-based Scottish Provident International Life Assurance, which is based in the Isle of Man.


A commission conundrum

PruProtect’s decision to boost the commission it pays advisers who sell its severity-based critical illness cover has come under fire this week.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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