Executive Summary
Resolution plc was formed in September 2005 from the merger of Resolution Life Group Limited and Britannic Group plc. Resolution plc is the largest specialist manager of in-force UK life funds.
Company History
In December 2005, a funds merger programme was completed which transferred the funds of Swiss Life (UK) plc, Phoenix Assurance Limited, Bradford Insurance Company Limited and Royal & SunAlliance Linked Insurances Limited into Phoenix Life Limited.
In September 2006, Resolution plc acquired the life businesses of Abbey National plc (Abbey). At this time long-term distribution agreements were entered into which allow Abbey to distribute onshore protection and pensions products via their branches or financial intermediaries. Abbey National Life plc was re-named Phoenix Life Assurance Limited. Scottish Provident International will directly distribute their offshore products through financial intermediaries, but will continue to administer an offshore bond for Abbey.
In January 2007, a funds merger programme transferred the funds of Alba Life Limited, Britannic Assurance plc, Britannic Retirement Solutions Limited, Britannic Unit Linked Assurance Limited, Century Life plc and Phoenix Life & Pensions Limited into Phoenix Life Limited.
In September 2007, Resolution acquired the Abbey for Intermediaries protection sales force. This team will continue to provide intermediaries exclusively with the Scottish Provident branded protection products.
In June 2008, Scottish Provident International Life Assurance Limited became part of the Royal London Group.
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