The Times writes that Royal London, the UK's second largest mutual life insurer, is planning a ...
The Times writes that Royal London, the UK's second largest mutual life insurer, is planning a bid for Britannic, the life and pension provider that has put itself up for sale after a sharp fall in profits. Harold Cottam, chairman of Britannic, admitted last month that the company still lacked the benefits of scale despite making a number of acquisitions. Pre-tax operating profits fell by nearly £30m to £145.4m in 2001. The Times also reports that the prospect of swinging tax increases of £7.5bn in Gordon Brown's Budget is being discounted by City economists who believe that the Chan...
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