Royal London completes Co-op acquisitions

Last week the Prudential Regulation Authority (PRA) approved the change in control required for the purchase of Co-operative's life insurance business Co-operative Insurance Society (CIS) by mutual Royal London. Royal London has also received the Financial Conduct Authority's (FCA's) approval for purchase of the Co-operative's asset management business - Co-operative Asset Management . This follows the signing of a sale and purchase agreement earlier this year between both parties. In addition, approval has been obtained from Royal London members, who voted overwhelmingly in favour of...