Resolution posts profit and eyes new acquisitions

first_img John Dunne Tuesday 17 August 2010 3:20 am Show Comments ▼ whatsapp Insurance buyout vehicle Resolution said on it would hunt out further acquisitions in a consolidating sector, as it posted an interim profit compared to a loss a year earlier.Resolution made an operating profit before tax of £203m for the six months ending June, compared to a loss of £7m a year earlier.Its earnings were driven mainly by profits at the Friends Provident insurer which Resolution acquired last year.In June, Resolution clinched a deal to buy AXA’s UK life insurance business and the company said it would examine further acquisition opportunities.The world’s top insurers are jostling to strengthen their position in a consolidating market, and earlier this week Aviva rejected a £5bn bid approach from rival RSA for some of its core general insurance units.“The company continues to target further life company acquisitions to both increase scale and build market leading positions in protection, workplace savings and annuities,” Resolution said in a statement. Share Resolution posts profit and eyes new acquisitions Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Tags: NULLlast_img

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