Resolution Ltd. is changing its name to Friends Life Group Ltd. as founder Clive Cowdery steps down from the board, about 18 months after scrapping its targets and a strategy to grow by acquisitions.
Resolution Ltd., the financial- services buyout firm founded by Clive Cowdery, said talks about a possible acquisition of Phoenix Group Holdings Plc have terminated.
Resolution Ltd., the insurance buyout firm founded by Clive Cowdery, abandoned plans to sell businesses on the public markets and said John Tiner, head of its management company, will retire.
Resolution Ltd., Clive Cowdery’s insurance buyout firm, is in advanced talks about a 1.2-billion pound ($1.9 billion) takeover bid for Phoenix Group Holdings Plc, the Sunday Times reported.
Resolution Ltd. , the insurance buyout firm founded by Clive Cowdery , plans to buy back 250 million pounds ($410 million) of shares, part of a plan to return 500 million pounds to investors over the next year.
"The insurance industry is not generally noted for its speed for doing things-- then someone like Mark turns up."
- Clive Cowdery on Jan 08, 2015