Royal London to set EGM date

ROYAL London, Britain’s biggest mutual life and pensions company, is expected to announce on Monday the date of a meeting for a vote on the planned £219 million acquisition of the Co-op’s life assurance and asset management business.

The vote is expected to be called before Royal London’s 4 June annual meeting.

The firm, which owns Scottish Life and Scottish Provident, will also reveal plans for a pilot webcast so that up to 1,000 members can go online and watch proceedings.

This is part of chief executive Phil Loney’s drive on improving engagement with its four million customers. Adding the Co-op business will increase this to six million and take assets under management from 
£50 billion to £70bn.