Friends/Axa to launch "best-of-breed" protection proposition

Buyout vehicle Resolution, which acquired Friends Provident for £1.86bn last year, has this morning agreed a £2.75bn deal to purchase Axa UK's life arm. The deal, which remains subject to regulatory approval, will see the combined business focus on the core areas of corporate pensions and protection and, from next year, see Friends Provident renamed Friends Life. Moss said the protection businesses of Axa and Friends Provident were strong in different areas so could be combined to offer a "good mix" to the market. "The protection businesses are really complimentary," he says. "Axa ...