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Resolution Insurance

February 28th, 2017 Leave a comment Go to comments

RESOLUTION INSURANCE


By : Aries Kurniawan

History and understanding of the Resolution Insurance Company

Resolution of plc is a UK insurance company which headquartered in the City of London. The company is listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but was acquired by Pearl Group in May of 2008.

Resolution Limited is a Guernsey-based company, which provides various products and services pensions, investments and insurance. The company operates throughout the world, including the UK, Luxembourg, United Arab Emirates, Singapore, Hong Kong and the Isle of Man. In the UK, the Company’s new business focuses on three core product areas: corporate profits, protection and retirement income. In addition, through the Heritage division, the Company focused on the approach to the management of the closed book of business.

In 2008, Resolution Limited was established as a financial services company listed on the restructuring and the London Stock Exchange. Since then it has acquired Friends Provident Group plc, the majority of the AXA UK life business and Bupa Health Assurance. This business has been rebranded and together form Friends Life Group.

In August, the Company announced that it was moving away from the structure and strategy of project-based and no longer seeks out special events for Friends Life Group. The company’s business model and strategy for the Friends Life Group focused to ensure that it is a successful group life insurance and ongoing strong cash profiles with a clear focus on maximizing shareholder value. There are two kinds of insurance group, namely :

Resolution Operations LLP and Resolution Capital Limited

Between December 2008 and March 2013, Resolution Limited advised by Resolution Operations LLP (ROL), a UK Financial Services Authority authorized as an investment adviser. ROL is provided mergers, acquisitions and other strategic advice as well as certain supervisory services. In August 2012, the Company announced that it is advisable to move from external, project-based structure to a more conventional, simplified governance structure. As part of this change ROL cease to provide services to the Company on March 27, 2013.

When Resolution Limited was first established by the co-sponsor of ROL and the beginning of the Company, Resolution Capital Limited, signed an agreement to share in the value created in the Company’s subsidiary, Resolution Holdco No 1 LP.

Resolution Limited is a life insurance company. The Company provides life protection, critical illness cover, income protection and business protection. The resolution also offers individual personal pensions, stakeholder pensions individually, and online stakeholder pensions and company pensions.

Begins with an insurance company , Resolution Life Group which was formed in 2004 is providing a vehicle for life funds that are closed to new business, but obligations extend many years into the future. The first is the purchase of the life insurance business of Royal and Sun Alliance, followed by the purchase of Swiss Life UK business.

In September 2005, Resolution Life Britannic joined the company FTSE Group, which has been closed to new business in 2003. In 2006 the combined group buying Abbey National business life, from £ 3.6 billion transaction that brings into the FTSE 100.

On May 30, 2007, Resolution announced a strategic partnership with Capita which will result in the transfer of approximately two thousand staff in Customer Services, IT and outsourcing then gradually to the back-office customer service to India.

On July 25, 2007, Resolution approving the merger with Friends Provident to create a new entity, Friends Financial, with a market capitalization of around £ 8.6bn, but by September 2007 it was announced that Hugh Osmond’s Pearl Group, a critic of the proposed merger with Friends Provident, has been in talks with Swiss Re undergo a potential deal to take over the resolution, but the conversation stops. On October 10, 2007, Pearl made a formal offer of 660 pence per share, valued at approximately £ 4.5 billion, in conjunction with the Royal London Mutual Insurance Society. Standard Life and Swiss Re also entered the bidding for Resolution and for a brief period on October 26, 2007, cash and stock bid worth £ 4.9 billion recommended by the board, which is canceling the deal with Friends Provident. In a short time, Pearl returned with all cash offer of 720 pence per share. In addition, Hugh Osmond, chief executive of Pearl, now controlled 24.1% of the shares of common stock resolution, which would effectively blocked the planned merger of Standard Life as it would have required the approval of 75% of shareholders. In mid-November 2007, Standard Life pulled out of the merger and the offer of Pearl recommended by the board to the shareholders.

Resolution finally re-launched by Clive Cowdery as an investment vehicle acquisition in December of 2008 and continued talks with Friends Provident in July 2009 but was rejected twice, although Friends Provident finally agreed to take over in August of 2009.

Using underwriting expertise, Resolution Insurance Company Ltd. (RICL) provides a variety of niche and specialist insurance broker offers solutions increase while adding value for our underwriting partners. But the company is also expert to develop a model of risk transfer. In short, the company’s expertise has made it possible to increase the value of any risk management strategy. RICL is licensed to bear the following insurance categories: accident, health, transportation, motor, liability, warranty and property.

Powered by reinsurance A, the value of which carries most of the risk, RICL has a BBB rating from Global Credit Rating Company. In addition, the insurance company is also has a good vision and mission that make this company is growing, the following vision and mission:

Vision
Its vision is to be a well-recognized leader and preferred provider of insurance services in Africa.

Mission

Its mission is to serve our clients, employees, stakeholders and the community by providing responsive and comprehensive insurance services.

That was the vision and mission, which promised to be a reliable, trustworthy, and honest in all involvement in the quality of good service. As well as trying to improve continuously, consistently exceed the customer expectations and ensure quality, it’s one of the insurance company guidelines. For those of you who want to know more details about the insurance company Resolution you can contact directly at :

Limited resolution
PO Box 255
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
23 Savile Row
London
W1S 2ET
Switchboard : +44 (0) 20 3372 2900

 

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