resolution
Resolution is preparing a "self-managed" exit from Friends Life in 2014 that would see the company split between a fit for purpose life company and a closed life fund consolidator.
Friends Life has made two senior protection appointments including poaching Ageas’ head of sales.
Resolution founder and chairman Clive Cowdery has bought a further stake in the consolidation vehicle.
Other resolution articles
Shareholders in Resolution Ltd are expected to block any further acquisitions other than life businesses by the company under new rules to be confirmed in January.
Phoenix Group, the closed ended fund consolidator, is considering a takeover offer, believed to be around £1bn, from private equity firm CVC Capital Partners after a bid from rival Resolution fell through.
Group protection business at Friends Life dropped by more than half in the third quarter of the year while individual business slipped slightly compared to the previous three months.
It has been another busy week in the world of financial services...
Friends Life has revealed it is developing a simple protection product to target new distribution methods.
(Updated) Friends Life is to separate its open and closed books of business as part of parent company Resolution's UK Life project.
Sesame Bankhall Group (SBG) generated zero operating profits in the first six months of the year as the company invested in technology and RDR transition.
The FTSE has had a bright start to trading with a host of financials enjoying early gains.
Thursday newspaper round-up: Lehman Brothers secretly borrowed billions of dollars from the US Federal Reserve months before the investment bank filed for bankruptcy, it has emerged.
Buyout vehicle Resolution expects to have £500m of excess cash to return to shareholders over the next 12 months after completing its work examining the cash and capital position of Friends Life, its new proposition formed from the merger of Friends Provident and Axa's UK life and pensions business.
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