Royal Liver members approve Royal London takeover

Royal Liver’s members have voted in favour of its buyout by Royal London.

Members of the mutual life and pensions company approved the deal at its annual general meeting yesterday.

Royal Liver will now apply to the FSA for regulatory approval of the transfer, which, subject to approval, will go ahead on 1 July.

The two companies signed a transfer agreement in April.

When merged, the combined company will have assets of more than £33bn and almost six million customers.

Royal Liver suffered serious losses during the recession and has been restructuring since 2009.