View more on these topics

Cowdery’s Resolution eyeing up Prudential’s UK life business

Clive Cowdery’s Resolution has reportedly approached Prudential about a potential bid to buy its UK insurance business.

According to the Sunday Telegraph, Cowdery has sounded out Prudential executives in recent weeks about a potential deal to buy the firm and his proposal has been discussed by the board.

The report says that although there are no live discussions taking place, Prudential is prepared for Cowdery to renew his advances.

The article says Prudential is willing to consider selling off its UK business but it believes any buyer would have to pay significantly more than the current implied stockmarket valuation.

HSBC is also expected to be among the bidders for the insurer, the Telegraph says.

Cowdery is believed to have made several bids for life insurers since Resolution floated on the LSE last December, raising £600m from investors. His targets are understood to include HBOS’ Clerical Medical and Friends Provident.

Recommended

Resolution eyes Pru UK insurance

Clive Cowdery’s Resolution has reportedly approached Prudential about a potential deal to buy its UK insurance business.

FSA deadline on PPI and personal loans

The FSA says all firms selling singe-premium payment protection insurance with unsecured personal loans have until May 29 at the latest to withdraw the product from the market.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com