Ongoing life insurance bidding war

Thu, 08 Nov 2007

The ongoing battle for closed life insurance fund Resolution seems to be continuing. The two front-runners in the bidding race, life insurance company Standard Life and Pearl (who are 24% stakeholders in Resolution) are playing a back-and-forth game to try and establish an advantage.

Why is Resolution so prized? A unique company, Resolution represents incredible value to life insurance companies through its ability to fund new business and its distribution networks. Resolution owns an array of inactive and active insurance companies and brands, and thousands of policies.

The deal was initially proposed as a merger between Friends Provident and Resolution, but bids from Pearl and Standard Life halted these plans. Whoever succeeds in buying Resolution may either keep Resolution brand names or change the group into a closed book of business.

Currently, shareholders in Resolution are deciding how to approach bids from Standard Life and Pearl. In other life insurance news, BUPA have reduced the premiums on their life insurance and critical illness insurance policies .
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