Liverpool Victoria acquires Hearts Oak Insurance

Liverpool Victoria Friendly Society is to acquire Hearts of Oak Insurance's administration and investment operations, which currently have funds under management of approximately £350m. Hearts of Oak believes that merging its administration and fund management businesses into Liverpool Victoria is in the best interests of both sets of members. Rights of Hearts of Oak members will be protected, however, there will be a full integration of the businesses, including policies, into Liverpool Victoria at a later date. An agreement is expected to be completed in January 2002, at wh...