Friends Prov sales fall to £500m

Resolution, Clive Cowdery's consolidation vehicle, which acquired Friends on 4 November, says its results reflect the difficult conditions in the UK market. Total sales for the first nine month of 2009 were £505m, down from £701m in the same period last year. Friends says its UK sales have remained level year-on-year, while protection sales were up 13% during the quarter.  Sales also climbed on a quarterly basis, up 6% compared with Q2 2009. Resolution says it continues to target further takeovers in the UK life and asset management sector as part of its consolidation drive, saying...