Pinsent Masons advises Scottish Friendly on proposed merger with OneFamily
09 Feb 2026 | 12:10 pm | 1 min. read
Multinational law firm Pinsent Masons has advised Scottish Friendly on its proposed merger with OneFamily, a combination that would create one of the UK’s largest mutual life assurance groups with 2.3 million members and nearly £10 billion in assets under management.
The merger, announced on 4 February 2026, represents a strategic opportunity for the two mutuals to scale their capabilities, broaden their product propositions and reinforce their commitment to mutual values. The transaction has signed and is expected to complete in early 2027, subject to regulatory approval.
Pinsent Masons brought together a multi disciplinary team to support Scottish Friendly across all legal and regulatory aspects of the merger. Corporate specialists led the transaction, coordinating closely with Insurance experts to navigate insurance regulatory requirements and the friendly societies legislation. Data Protection, Competition, Pensions, and Employment specialists provided additional support.
Alan Rankine, CFO, Scottish Friendly said: “Pinsent Masons have provided invaluable advice on all aspects of our proposed merger with OneFamily. Hammad Akhtar (Corporate Insurance, Partner), Chris Riach (Insurance Regulatory, Partner) and the team were able to combine in-depth technical insurance expertise and direct experience of similar complex corporate transactions, bringing this to bear to the benefit of our project. Their pragmatism and commercial focus have been invaluable in getting the job done, all the time working effectively with our teams and with a natural understanding of our business and culture.”
Commenting on the transaction, Hammad Akhtar, Corporate Insurance Partner, Pinsent Masons, said: “We are proud to be advising and supporting Scottish Friendly on this pivotal merger, which brings together two long established mutuals with shared values and a strong commitment to customer focused financial services. This combination marks an important milestone in the sector, and we look forward to supporting Scottish Friendly through the next stages of the process.”
Chris Riach, Co Lead and Partner, Insurance Regulatory, added: “The merger reflects a significant step forward for both organisations, creating scale, resilience and enhanced capabilities. It has been a pleasure to work with Scottish Friendly on a transaction that will help shape the future of mutual financial services in the UK.”
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