Royal London is expected to announce the sale of its offshore wealth unit 360 to private equity group Vitruvian Partners, according to reports
Sky News reports the deal, which it says is expected within the next few days, would involve the transfer of around 200 employees and in excess of £2bn in assets under management.
Royal London group declined to comment.
Royal London is the largest mutual life and pensions company in the UK with group funds under management of £73.5bn.
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
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