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21 August 2009

News

Friends Provident takeover: what will it mean for customers? - preview
It is expected that the Friends Provident (FP) board’s recommendation of Resolution’s £1
  • 86 billion bid will be approved by the Friends Provident shareholders, many of whom collected their shares when the company demutualised in 2001


  • Resolution is a Guernsey-based investment company whose current strategy is to acquire and consolidate medium-sized financial services companies that are struggling in current market conditions


  • Friends Provident remains a sound company with one million with-profits policy holders and 740,000 retail shareholders (obviously only a small minority of these will be Quakers)
  • Friends who are customers are more likely to be concerned about whether new owners will preserve the ethical standards that helped to make the company’s name, rather than about its solvency (which is not in doubt) or future investment strategy

  • Philip Barron

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    Friends Provident takeover: what will it mean for customers?
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    Q-eye: a Quaker look at the world

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