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Life insurance sector will be restructured

Wed, 24 Jun 2009

Resolution, the powerful life insurance company, may well make a move that restructures the face of the UK life insurance sector. The company, registered in Guernsey, may carry out a multi-billion pound buyout within the sector.

Clive Cowdrey, the founder of Resolution and an insurance industry powerhouse, is set on a major insurance company buyout in the life sector. He reportedly said: "Our investors are expecting to put up £2bn to £3bn for deals. With new retained equity participation by vendors this becomes £5bn to £7bn."

This makes the vast majority of companies in the UK life and pensions sector within reach of Resolution. There are, of course, notable exceptions such as Aviva and Prudential .
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