Cowdery eyes Clerical Medical

Cowdery, who offloaded Resolution to the Pearl Group for £4.98bn earlier this year, is set to float his new Resolution Limited vehicle before the end of the year. More than £1bn is expected to be raised by institutional investors, which may include former backers Prudential, Standard Life and Royal London. The Times reports Clerical is one of a number of possible acquisitions for Cowdery, along with long-time rumored target Friends Provident. While the merged Lloyds TSB and HBOS bank has announced it will keep Clerical as well as the more high-profile Scottish Widows brand, it is unde...