95 per cent 'yes' for Royal's Co-op takeover

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The Independent Online

Members of the insurance group Royal London have backed its £219m takeover of the Co-operative's life insurance and asset management unit.

Royal London announced that 95 per cent of members voted in favour of a deal which the chairman, Tim Melville-Ross, described as "a landmark step forward" for the company. "It is transformative and exciting for us and we look forward to welcoming the Co-operative policyholders into Royal London," he said.