"I'm not sure if we'll be able to offer wider services. It's still a little early to tell, but we're looking for the positive," says Doug Nelson, manager of the Royal Bank in Yellowknife.

A number of regulatory approvals need to be met by Oct. 31, says Ken Brown, senior adviser with public affairs for the Royal Bank.

"For now, it's just business as usual," he says. "It's premature to speculate on how the transaction will change things until the purchase is ratified ... or how it will impact on clients with the Royal Bank."

The Bank Act prohibits banks from selling insurance to their customers through their branches. But a bank can own the majority of an insurance company, explained Brown.

The Royal's offer is to acquire all outstanding common shares of London Insurance Group Inc. for $27.50 per share.

London Insurance Group Inc. also deals with financial services, such as mutual funds.

"It's the largest provider of insurance services in Canada, and we're (Royal Bank) the largest provider of banking services in Canada," says Brown.

The insurance company has a 3,500-member sales force and 11,000 employees.

"Working together, we will grow our businesses, provide more choice and flexibility for clients at reasonable prices and create more exciting opportunities for employees of both companies," Royal Bank chairman and CEO, John Cleghorn, says in a press release.

"We're acquiring the best company in the business, a strong brand name in London Life's Freedom 55, and an industry-leading sales force..." says Jim Westlake, president of RBC Insurance.

London Insurance Group is based in London, Ont., with 3.2 million individual and group customers in Canada, the U.S., Europe and Asia. London Life is the core business unit of the company.