subject: Resolution insurance halts further aquistions [print this page] Resolution insurance halts further aquistions
Mergers and acquisition teams up and down the UK will be upset this week by the news that Clive Cowdery called a halt to new acquisitions by his specialist listed insurance acquisition vehicle Resolution. The owner of the Friends Provident and AXA UKL life businesses reknowned for cheap life insurances said it was highly unlikely that it would now be making any further purchases. Fears of share issues by Resolution to finance more deals have undermined the share price, which is 29% below the adjusted price at which Mr Cowdery launched the vehicle in December 2008.
The UK market for life insurance remains highly competitive with a number of providers including Legal and General, Aviva, Liverppol Victoria and Pru Prudential, Direct Line andSun Life Direct all looking to increase their market share claims Capital Fortune. It is clear that in the UK, life insurance is sold by advisers and not bought by consumers, who generally see it as good to have, but feel it is not necessary.
The cost of life insurance is now relatively cheap as people are living far longer due to improvements in medical research and the availability of life prolonging drugs. However, for those families who have had recourse to claim on such policies they have proved an essential lifeboat in times of financial and personal difficulty. Many policies are now available for as little as the price of a restaurant meal once per month or a daily coffee. The costs to insure are now at historical lows.
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