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Resolution Life verifies rumored discussions with potential partners

Specialist insurer Resolution Life has confirmed that it has been holding discussions with potential suitors that could lead to further acquisitions or possible bids for the insurance company.

The group said in a short stock exchange statement: Resolution confirms it is currently in very early discussions with various parties concerning a wide range of possible transactions, including acquisitions, business combinations, or a possible offer for the company.

Resolution is the sixth largest UK life insurer with a market value of GBP4.6 billion. It is understood that the company has been conferring with Prudential, Standard Life, Legal & General, Lloyds TSB, Friends Provident, Aegon, Swiss Re and Friends Provident, to name but a few.

The insurer’s shares increased by 5% after the confirmation came through.