Scottish Legal Life has confirmed it is in exclusive talks with Scottish Friendly about a merger of the two Glasgow-based mutuals, says the Scotsman .
If approved by financial regulators and members, the deal would see Scottish Legal disbanded and give Scottish Friendly a total of about £750m in funds under management and half a million members. Scottish Legal, established more than 150 years ago, has about £200m funds under management and 120,000 members – about 80,000 in Scotland and 40,000 in Ireland. Its business has been in decline since closing to new members in 2002, after it said the costs of recruiting new business outweighed returns, says the paper. PUB COMPANY Mitchells & Butlers is considering splitting itself in two so ...
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