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Royal Bank Streamlines Insurance Operations

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A Canadian financial services company has merged 2 U.S. life businesses.

Royal Bank of Canada, Toronto, has consolidated Liberty Life Insurance Company, Greenville, S.C., and Business Men’s Assurance Company of America, Kansas City, Mo., into a single legal entity, Liberty Life Insurance Company.

Liberty Life now operates as RBC Insurance and is based in Greenville, according to RBC Insurance.

The move eliminates the RBC Liberty Insurance brand, RBC Insurance says.

RBC Insurance says it continues to have more than 200 employees in Greenville, a sales and marketing office in Kansas City, and about 300 full-time agents.

RBC Insurance says it does not expect any job losses to result from the corporate streamlining.