JUST five days after leaving office and four days after the election, soon-to-be Baroness Ruth Davidson has landed a bumper contract as a non-executive director of mutual insurance giants Royal London.

It’s nice work if you can get it - reports in the City say her appointment at Royal London could earn her £85,000 a year for just 30 days work per annum.

The former leader of the Scottish Conservatives, who is heading for the House of Lords, said: “I love the values and philosophy of mutuals and I am delighted to be joining Royal London, which practises those values every day.”

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Founded in 1861, Royal London is the UK’s largest mutual life, pensions and investment company. It has a history of appointing failed politicians to its ranks - former pensions minister Liberal Democrat Steve Webb joined Royal London as policy director in 2015 after losing his Thornbury and Yate seat in that year’s election.

It is usual, however, for exiting politicians to wait some time before jumping into the world of business – Davidson’s term as an MSP officially ended last week on May 5 with the dissolving of the Scottish Parliament.

Royal London chairman Kevin Parry welcomed Davidson, saying: "She brings a deep understanding of contemporary societal issues, and is a strong advocate for diversity and a champion of advancing social and environmental responsibility.

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"Ruth will be an invaluable and complementary asset to the Board as we continue to use our long-term approach as a mutual to shape the way we do business."

Davidson said: "It is a supportive and responsible employer and, as the UK's largest mutual life insurer, it takes decisions for the long term, wholly focused on providing security to its millions of members and policy holders.

"I look forward to championing in the areas of diversity and social responsibility as Royal London continues to develop and deliver excellence."

Davidson's previous Edinburgh Central Holyrood seat was sensationally won by the SNP’s Angus Robertson in the May 6 vote.

Parties have been approached for comment.