Resolution to return £500m 'excess cash' to shareholders

Scott Sinclair

Buyout vehicle Resolution expects to have £500m of excess cash to return to shareholders over the next 12 months after completing its work examining the cash and capital position of Friends Life, its new proposition formed from the merger of Friends Provident and Axa's UK life and pensions business.

The cash falls into two components: excess cash currently held at the Guernsey top company, which is being returned immediately by way of a £250m share buyback; and surplus cash expected to ...

To continue reading this article...

Join Professional Adviser


  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Life Office

Aviva CEO Maurice Tulloch

Aviva set for shake-up of UK business - reports

Tulloch making his mark

Sam Shaw
clock 28 May 2019 •

Zurich tables £5.6bn bid for rival RSA Group

Insurance giant Zurich has revived its attempt to acquire rival business RSA with a new proposed cash offer of 550p per share, valuing the company at about £5.6bn.

Professional Adviser
clock 25 August 2015 •

Zurich puts 90 jobs at risk across UK life operation

Zurich plans to make 90 redundancies from its UK life business as part of cost cutting measures in light of the challenging economic environment.

Jenna Towler
clock 31 May 2012 •