Royal Liver moves on from failed merger approach

Mutual life insurer Royal Liver today said it was putting recent failed merger talks with Royal London behind it as the group revealed the benefits of its cost cutting drive.

The 157-year-old group, which had been approached by fellow mutual Royal London in April over a potential tie-up, reported a 27% drop in interim operating costs as an overhaul strategy launched in 2004 started to pay off.