The Royal National Pension Fund for Nurses has announced a £248m takeover deal by life group Liverpo...
The Royal National Pension Fund for Nurses has announced a £248m takeover deal by life group Liverpool Victoria following a strategic review on how it could best continue to offer low cost pension, savings and protection products to the nursing and healthcare profession.
RNPFN chairman Jeremy Soames said: "Liverpool Victoria is well placed to continue to provide our policyholders with value for money and security, and to provide the healthcare community with a broader range of tailored savings and protection products for the future."
Liverpool Victoria chairman Stephen Maran said: "We are delighted to announce the acquisition of RNPFN, which brings with it a valuable association with the nursing profession, and represents a significant step in consolidating our position as a leading provider of financial services to affinity group."
The deal also leads to the formation of the Burdett Trust, so named because after the RNPFn founder. The fund to be launched with a cash injection of £48m will endeavour to continue to offer charitable benefits to the nursing and healthcare communities.
"We are also very pleased to be establishing the Burdett Trust for nursing and see this as a significant, long-term legacy, which will benefit the healthcare community," said Soames.
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Invested from 2006-2011