Cowdery's Resolution targets £6bn maiden acquisition

A report in the Financial Times says the firm, which raised more than £600m when it listed in December last year, will seek to raise between £2bn and £3bn from existing investors with an additional £3bn or £4bn to come from new vendors. "There will be fewer insurers left in the UK once Resolution has completed its restructuring of the life sector," Cowdery says. "Our investors are expecting to put up £2bn to £3bn for deals. With new retained equity participation by vendors this becomes £5bn to £7bn." The price range would put most of the UK-listed life and pensions sector within reach...