Royal London will merge its newly-acquired Scottish Provident International Life Assurance (SPILA) business with Scottish Life International (SLI).
The announcement of a new single entity comes just under a week after Royal London completed SPILA’s integration to the group, the first finalised asset transfer following the Pearl Group-led takeover of Resolution. As part of Pearl’s £4.98bn Resolution deal, Royal London purchased SPILA, the Scottish Provident and Scottish Mutual Assurance protection businesses, as well as Phoenix Life Assurance. SLI chief executive David Kneeshaw will spearhead the new combined business and has been entrusted with the responsibility for designing the best model to accelerate Royal London’s international...
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