Royal London merger to cost 110 jobs

City A.M. Reporter
Royal London, Britain's biggest mutually-owned insurer, said a net 110 jobs would go as it absorbs merger partner Royal Liver.

Royal London will close its office in Liverpool at the cost of 222 jobs and transfer its functions to an existing office in Wilmslow, where 105 new roles will be created, the insurer said on Monday.

A further seven new jobs will open at the group's London-based asset management operation.

Liverpool-based employees can apply for the new jobs in London and Wilmslow.

Royal London, which last month sealed the takeover of Royal Liver and entered talks to buy the life arm of Cooperative Financial Services, has emerged as a leading consolidator of life insurers that no longer accept new customers.