Announcement from FPIL

The FPI UK Group office have now confirmed the merger will take place between the Friends Provident Group and Resolution, subject to shareholder and regulatory approval.

The new group will be called Friends Financial Group but we will retain the Friends Provident brand for life, pensions and investment purposes.

Specific messages for intermediaries/strategic partners regarding the proposed merger of Friends Provident plc and Resolution plc:

• Friends Financial will be a major force in Life business, its new scale enhancing market credibility and presence
• We will have added financial strength and flexibility, further supporting its ability to finance strong growth
• Our greater distribution, territorial and income diversity is a strong hedge against future market volatility
• Integration will not impact our excellent day-to-day service, due to the complementary characteristics of Friends Provident and Resolution
• Friends Financial’s strong position in the consolidating market will be self-evident
• No change to our approach to the market:
  • Developing service excellence and leading products to create a positive customer experience
  • Continuing to focus on core strategic markets to build a leading position in each
  • Continuing to build strong and reliable distribution relationships, applying technology to enhance distribution, support excellent service and reduce costs