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In 2007, [[Royal London Group|Royal London]] approached Royal Liver about a possible combination of their businesses, but Royal Liver decided to remain as an independent entity.<ref>{{Cite web|url=https://www.theguardian.com/money/2007/may/01/insurance.business|title=Royal London and Royal Liver in early stage of takeover talks|date=1 May 2011|newspaper=The Guardian|access-date =8 February 2026}}</ref> |
In 2007, [[Royal London Group|Royal London]] approached Royal Liver about a possible combination of their businesses, but Royal Liver decided to remain as an independent entity.<ref>{{Cite web|url=https://www.theguardian.com/money/2007/may/01/insurance.business|title=Royal London and Royal Liver in early stage of takeover talks|date=1 May 2011|newspaper=The Guardian|access-date =8 February 2026}}</ref> |
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During the [[2008 financial crisis]], the FSA launched ”Project Chrysalis”, aimed at [[mutual insurance]] companies. Companies were asked to hold more capital, and to either stop writing new policies, or justify that continuing selling new business would not put existing policyholders at a disadvantage. At the time, it was anticipated that several mutuals would merge due to lack of capital.<ref>{{Cite web|url=https://www.ftadviser.com/financialadviser/advisers/industry/news/article/20100225/e3d2b4c6-1fa5-11df-9f35-00144f2af8e8/rival-mutuals-look-at-merger-for-survival.jsp|title= |
During the [[2008 financial crisis]], the FSA launched ”Project Chrysalis”, aimed at [[mutual insurance]] companies. Companies were asked to hold more capital, and to either stop writing new policies, or justify that continuing selling new business would not put existing policyholders at a disadvantage. At the time, it was anticipated that several mutuals would merge due to lack of capital.<ref>{{Cite web|url=https://www.ftadviser.com/financialadviser/advisers/industry/news/article/20100225/e3d2b4c6-1fa5-11df-9f35-00144f2af8e8/rival-mutuals-look-at-merger-for-survival.jsp|title= Rival mutuals look at merger for survival|website=www.ftadviser.com}}</ref> |
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Royal Liver were then approached again by Royal London in February 2010.<ref>{{Cite web|url=https://www.cityam.com/royal-london-and-liver-merger-talks/|title=Royal London and Liver in merger talks|newspaper=CityAM|date=22 February 2010}}</ref> Talks continued for some time, and the board of Royal Liver agreed the terms of a potential merger in April 2011. The delegates of Royal Liver voted in favour of the merger in May 2011.<ref>{{cite news|url=https://www.professionalpensions.com/news/1001594/royal-liver-approve-royal-london-takeover|title=Royal Liver members approve Royal London takeover|newspaper =Professional Pensions|date=13 May 2011|access-date =8 February 2026}}</ref> |
Royal Liver were then approached again by Royal London in February 2010.<ref>{{Cite web|url=https://www.cityam.com/royal-london-and-liver-merger-talks/|title=Royal London and Liver in merger talks|newspaper=CityAM|date=22 February 2010}}</ref> Talks continued for some time, and the board of Royal Liver agreed the terms of a potential merger in April 2011. The delegates of Royal Liver voted in favour of the merger in May 2011.<ref>{{cite news|url=https://www.professionalpensions.com/news/1001594/royal-liver-approve-royal-london-takeover|title=Royal Liver members approve Royal London takeover|newspaper =Professional Pensions|date=13 May 2011|access-date =8 February 2026}}</ref> |
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Revision as of 23:03, 8 February 2026
Friendly society in the United Kingdom
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| Formerly | Liverpool Lyver Burial Society |
|---|---|
| Founded | July 24, 1850 (1850-07-24) in the Lyver Inn, Liverpool, England |
| Defunct | July 1, 2011 (2011-07-01) |
| Fate | Acquired by Royal London |
| Headquarters | Royal Liver Building, ,
United Kingdom |
| Website | royalliverassurance.com |
Royal Liver Assurance was a friendly society with over 1.7 million members in Ireland and the United Kingdom. Royal Liver and its subsidiaries became part of the Royal London Group on 1 July 2011.
History
The Liverpool Lyver Burial Society was founded by a group of working men from Liverpool in the Lyver Inn on 24 July 1850 to “provide for the decent interment of deceased members”.[1]
By 1857 the Society had moved to its fourth head office and had expanded throughout the United Kingdom. By the end of the 1890s a decision was taken to build what would become the Royal Liver Building; it opened on 19 July 1911.[2]
Royal Liver had a financial advisor company called Park Row; however this was wound up following an investigation by the FSA in February 2010.[3]
In 2007, Royal London approached Royal Liver about a possible combination of their businesses, but Royal Liver decided to remain as an independent entity.[4]
During the 2008 financial crisis, the FSA launched Project Chrysalis, aimed at mutual insurance companies. Companies were asked to hold more capital, and to either stop writing new policies, or justify that continuing selling new business would not put existing policyholders at a disadvantage. At the time, it was anticipated that several mutuals would merge due to lack of capital.[5]
Royal Liver were then approached again by Royal London in February 2010.[6] Talks continued for some time, and the board of Royal Liver agreed the terms of a potential merger in April 2011. The delegates of Royal Liver voted in favour of the merger in May 2011.[7]
