Friends to make a Resolution ?

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                 UK Life Insurers in talks to decide to merge again ?     7/2009 

Having last discussed this back in 2007, a proposed merger of Friends Provident Uk and Clive Cowdrey's Resolution was formally announced again to create a possible new Friends Financial Group plc - a new company in the Life Insurance Providers and Asset Management industries. Friends Provident and Resolution said in the past they are natural partners & will create a firm with a market value of over £8bn. They say in their press releases that their complementary strengths being combined are strong in todays marketplace.

          +       TO JOIN FORCES ?  

Friends Financial - they think the merits of joining forces are compelling.

The press speculate that the new enlarged business will still be focused on building leading positions in the core markets of protection, group pensions and wealth management, yet be able to achieve far more together than maybe the 2 companies could do independently.

The new size and scale of Friends Financial say they will bring with it an enhanced market credibility and presence, instilling consumer confidence. It will have even greater financial strength and flexibility to develop its position in its core strategic markets

The extreme complementary characteristics of Friends Provident and Resolution [Phoenix Group] will mean that they think they will be able to maintain, and even enhance, the day-to-day high service standards during the period of integration.
 
Its greater distribution, territorial and income diversity will be a strong hedge against any risks arising from industry volatility. Its strong position in the consolidating UK market may become self-evident. They state that if any customers express concerns, they can be reassured that:

• There is nothing for them to do or to worry about
• Policy terms and conditions will remain unchanged
• Payment processes will remain unchanged
• The same people will be dealing with their policies
• Our high service standards will continue, unaffected
• There are no changes to how customers make contact

Their press say that this is a merger of two successful life insurance companies that will be even stronger and more secure by combining forces.

Friends Provident & Other Resolution Protection Brand products may continue ?

                

It is intended that both the Friends Provident and other Resolution protection products will continue as relevant to be distributed through intermediaries and that they are supported and developed to meet the needs of their clients and intermediaries.

 As at 8/2009 the 2 companies announce that talks/bids are now confirmed subject to regulatory agreement 

For quotes or information on either Companies protection plans please contact us. 

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