Scottish Friendly completes Canada Life pension book acquisition

AUM increase by £2.4bn

Sophie King
clock • 1 min read

Mutual Scottish Friendly has completed the acquisition of a back book of life and pension policies from financial services provider Canada Life.

The deal has seen its assets under management (AUM) increase by £2.4bn to more than £5bn. Its membership has increased by some 127,000. Scottish Friendly said it would ensure all transferring customer policies received the "highest standards of care" during the transition period. The companies first announced the deal to sell the closed book of business in June last year. Scottish Friendly chief executive Jim Galbraith (pictured) said: "This is a landmark acquisition for Scottish Friendly and helps to consolidate us as a leading mutual and a significant player in UK financial servi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

FOS opens consultation on compensation interest levels

FOS opens consultation on compensation interest levels

To be better aligned with market conditions

Isabel Baxter
clock 04 June 2025 • 3 min read
Mattioli Woods and Kingswood: What next for top teams and consolidator tie-ups?

Mattioli Woods and Kingswood: What next for top teams and consolidator tie-ups?

‘It’s never a merger, there’s always one dominant management team’

Isabel Baxter
clock 30 May 2025 • 3 min read
Fidelius merges with London-based Timothy James & Partners

Fidelius merges with London-based Timothy James & Partners

AUM to exceed £3bn

Jen Frost
clock 30 May 2025 • 2 min read