BusinessCompany NewsPearl opposes Friends Resolution merger

Pearl opposes Friends Resolution merger

Pearl Assurance has moved to counter the £8.6bn merger between insurers Friends Provident and Resolution.

Pearl Assurance has moved to counter the
£8.6bn
merger
between insurers Friends Provident and Resolution.

Pearl’s influence comes from its 11% stake in Resolution, which it wielded to
demand a meeting with Clive Cowdery, Resolution’s chairman.

The insurer intends to grill Cowdery on the merger and explore alternative
opportunities, The Times reported.

There is also speculation that the life fund group, which is fronted by Hugh
Osmond may be considering a merger of its own with Resolution.

Further reading:

Smart departs again in Friends merger

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