95% of members support life insurance acquisition

Royal London’s £2.19m purchase of the Co-operative’s life insurance and asset management business has won overwhelming support from its members.

Britain’s largest life and pensions mutual society needed a simple majority in favour for the proposals to be passed, but gained 95% support.

The Co-op sold the business in March to help strengthen its finances.

The Co-operative Group has announced two new additions to its top team. Richard Pennycook, formerly group finance director for the Morrisons supermarket chain, is to become group finance director; and Richard Pym, who is chairman of UK Asset Resolution, will become an independent non-executive chair of The Co-operative Bank .

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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