Reliance Mutual in demutualisation and sale to LCCG

Under the proposed transaction it is expected that Reliance Mutual's members will receive a one-off payment dependent on policy size to compensate for loss of membership rights. Members with voting rights will also receive an additional fixed payment compensating them for the loss of their voting rights.  Two of Reliance Mutual's non-executive directors will join the Board of the new life company to provide continuity of oversight for all transferring policyholders. Reliance Mutual Insurance Society has provided life insurance solutions to the UK population since 1911. It has 200,0...