Resolution recruits Tiner to lead flotation

Tiner, who retired from the FSA in July 2007, will be responsible for running the new company and leading the restructuring of newly acquired business. Resolution believes there are a variety of opportunities in the financial services sector including roll-ups, break-ups and partnership transactions, which would require around £5bn of equity over time. It plans to raise up to 20% of this amount initially to provide funding for potential early transactions with an IPO set to complete in November. In a call to investors, Resolution says the general insurance and reinsurance sector is...