Insurance entrepreneur Clive Cowdery and other former directors of Resolution Plc, which was sold to Pearl Assurance last year, are under investigation by the Financial Services Authority, The Telegraph reports.
Resolution Ltd, which listed in London last year after the sale of Resolution Plc, said the FSA had informed it of the investigation. Mike Biggs, chairman of Resolution Ltd, who was chief executive of Resolution Plc, is part of the group being investigated by the watchdog. He will continue in his post, and a temporary special committee of the board has been set up to deal with all matters relating to the FSA investigation. The temporary committee will be run by Phil Hodkinson, a former HBOS finance director. The FSA declined to say what the nature of the investigation is, saying it wi...
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