Friends Life restructure costs forecast to reach £280m

The life and pensions provider's full year results for 2012 showed separation and integration programme costs of £124m for the 12 months. It has so far spent £257m, and the full cost is now estimated to stand at £280m. In November 2012, the company, which is part of the Resolution business, provided an update on the costs of completing the programmes with extensive re-planning undertaken to assess the impacts of addressing the complexities and necessary remediation work arising from the proposed migration from AXA systems. The Resolution full year results added outsourcing costs reach...