Resolution, the buy-out vehicle launched by entrepreneur Clive Cowdery, is highly unlikely to make any further acquisitions and will instead focus on developing new life products.
The company announces it "will not contemplate acquisitions" that would dilute the returns it expects from recent acquisitions Axa, Bupa and Friends Provident. Mike Biggs, chairman of Resolution, says the company is "confident the [UK life] project will deliver its targeted mid-teens returns", adding there will be a "high threshold" for evaluating any further acquisitions. Resolution has targeted a return on embedded value of at least 10% per year on Friends Provident Holdings business within two years. The company expects to make an internal rate of return (IRR) of 20% on individu...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
