Scottish Friendly completes takeover of Marine & General
- Published
Fiona McBain said the takeover was part of Scottish Friendly's strategy to diversify and grow the business
Scottish Friendly Assurance has announced that it has completed the takeover of Marine & General Mutual (M&GM).
The takeover was given final approval from the High Court in London on 22 May after being backed by members of both mutuals.
Glasgow-based Scottish Friendly first announced the move back in February.
The mutual said the takeover was part of its strategy to diversify and grow the business.
Chief executive Fiona McBain added: "The takeover of M&GM has doubled Scottish Friendly's assets under management to over 拢2bn and will give us additional economies of scale that can drive further efficiencies and increased value to all of our policyholders, including those transferring from M&GM."
- Published2 February 2015
