Royal London and The Co-operative Banking Group have today announced the signing of agreements for Royal London to acquire The Co-operative’s life insurance and asset management businesses.
Before the transaction takes place there will be a period of completion which will take a number of months. Following the completion period life insurance and asset management customers will transfer to Royal London.
Customers affected are those who have products provided by Co-operative Insurance Society (CIS), CIS Unit Managers and CIS Policyholder Services. These products include unit trusts, investments, pensions, life insurance and protection.