Executive Summary
Friends Provident is one of the leading financial services groups in the UK and a member of the FTSE100 Index of leading UK companies. With a history dating back to 1832, Friends Provident has two core businesses: The Life and Pensions business markets a broadly based range of life and pensions products in the UK and throughout Europe, Asia, and the Middle East, and incorporates the Luxemburg based company Lombard International acquired in Jan 2005. The Asset Management business - F&C Asset Management plc - manages funds of some Tã124.8 billion and markets a wide range of investment products both to personal and institutional customers. Friends Provident plc has a majority shareholding of 51% in F&C Asset Management plc. Our business was founded on high principles, to alleviate the hardship of families facing misfortune. These principles still drive us. Throughout 2003, we paid out some Tã12 million every working day, mainly through maturity proceeds or people in retirement.
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