17 April 2008
The Financial Services Authority has approved Hugh Osmond's
Pearl Assurance to acquire Resolution Life for almost £5bn,
paving the way for the completion of the deal, which is now
expected to be completed on 1 May.
As well as Pearl taking control of Resolution, Royal London, the
UK's biggest mutual life assurer, will pay more than £1.2bn
for most of Resolution's businesses writing new policies.
