Resolution has completed the acquisition of the AXA UK life businesses. The combined business is now held by Friends Provident Holdings (UK) Limited.
Trevor Matthews of Friends Provident comments, “This is exciting for the UK life assurance sector as combining the best of the best elements of our collective skills, people and propositions will make us one of the market leaders in the UK. Our combined organisation has a real opportunity to shape the future direction of the life industry in the UK."
Friends Life, the new brand name for the combined business, is expected to be unveiled in early 2011.