Association of Financial Mutuals to go live on New Year's Day

Support from the Association of Mutual Insurers (AMI) has confirmed its merger with the Association of Friendly Societies (AFS) that will create a new trade body representing the UK's mutual insurance sector. The vote of approval at AMI's annual general meeting follows a similar thumbs-up to the merger from the AFS in October. Mike Yardley, CEO of Royal London Group will be the organisation's first chairman, and it is consulting with both existing bodies about the recruitment of a chief executive and other roles. Yardley said: "During the financial crisis the mutual insurance secto...