Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 20th of February 2018
August 13, 2007

Prudential hopeful of sale to Resolution

by Gill Montia

Story link: Prudential hopeful of sale to Resolution

Prudential, the UK’s second-largest insurer, is reported to be hopeful of reinstating negotiations to sell all or part of its UK operations to Resolution, the closed life consolidator.

Resolution has agreed a merger with Friends Provident and Prudential is reported to be awaiting the completion of these negotiations, before approaching Resolution once again.

It is understood that Prudential expects to revive the negotiations whether or not the planned merger between Resolution and Friends Provident is successful.

Earlier talks between Prudential and Resolution were apparently extensive, with several options having been considered before Resolution decided instead to merge with Friends Provident.

However, the future of any such plans could be scuppered as Pearl Insurance has recently increased its holding in Resolution to 16%.

Pearl’s reasons for doing this are not yet clear but there is speculation that Pearl could make an offer for Resolution, which could force the company to reconsider acquiring Prudential’s UK business.

 

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