Friends Life Group Limited was a Guernsey-incorporated investment vehicle which had the stated intent of forcing consolidation in the British life insurance industry. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. It was acquired by Aviva on 13 April 2015.
History
The firm was founded as Resolution Limited by entrepreneur Clive Cowdery in 2008 after agreeing a deal to retain the naming rights to Resolution plc, the zombie fund investor he founded which was sold to Pearl Group that year.[2]
The company was established with the intention of completing the leveraged buyout and merger of at least three UK life insurance operators by 2012 and spinning out the enlarged company on the stock market.[3]