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Resolution to merge seven life companies

Resolution is proposing to merge the business of seven of its eight existing life companies.

The merger will be implemented by a Court approved transfer of the business of Alba Life, Britannic Assurance, Britannic Retirement Solutions, Britannic Unit Linked Assurance, Century Life and Phoenix Life & Pensions Limited to Phoenix Life Limited.

PLL was itself formed in 2005 through the merger of the business of Royal & Sun Alliance Linked Insurances, Phoenix Assurance, Bradford Insurance Company and Swiss Life UK.

The final Court hearing is scheduled to take place on December 6 2006 with the merger anticipated to be completed by the end of the year.

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