Resolution says it has "multiple routes" to complete its UK life consolidation project including further scale transactions, a series of smaller bolt-ons or a combination of the two.
The consolidator's comments came as it revealed its first set of results since the acquisition of both the AXA UK Life business and Bupa Health Assurance Limited in the second half of this year.
It reported total sales for consolidated vehicle Friends Provident Holdings for the nine months to 30 September 2010 (excluding £26m in respect of the acquired AXA businesses) were up 35% to £683m compared with £505m for the same period in 2009.
However, sales were driven by a strong showing for its International and Lombard businesses with UK inflows flat over the period at £294m (excluding AXA).
Chief executive John Tiner said there was still "much to do in the further restructuring of the life and pensions market" but moved to dismiss reports of an imminent deal with a US firm.
"We are totally focused on the UK but we have definite wider and longer term ambitions to build restructuring projects in other jurisdictions which would include the US. As long as they delivered value for shareholders."
He reiterated the group's consolidation timetable was to restructure and hold the combined business for 2-4 years from the announcement of its acquisition of Friends Provident on 5 November 2009 and this still seemed a fair time frame for its plans.
In the UK, corporate sales of £236m mainly relate to group pensions business and includes post-acquisition sales of £12m from the acquired AXA UK Life business, combined with £224m year to date sales in the Friends Provident business.
On a standalone basis, Friends Provident group pension sales are up 1% on 2009, with the timing of scheme wins causing some quarter-on-quarter volatility.
The Friends Provident business now has pensions funds under management of £18.8bn (including Friends Provident unit-linked and AXA group pensions business).
Protection sales were equally subdued as a weak housing market continued to take its toll. Consolidated sales volumes remain depressed at £32m with standalone Friends Provident sales down to £27m from £31m in the prior period, excluding the AXA UK Life business which contributed £5m.
Consolidated individual pensions sales of £23m include a 14% period on period increase in Friends Provident sales to £21m combined with the post-acquisition sales of the acquired AXA UK Life business of £2m.
However, investment sales on a consolidated basis, at £8m were significantly up on 2009 and include post-acquisition sales of £6m from AXA UK Life. The majority of the acquired sales volume was supported by the onshore bond proposition, which is distributed through IFAs and existing tied bancassurance relationships.
Annuity sales were also up on 2009 with consolidated sales in the nine months to the end of September 2010 of £21m.
Quarter-on-quarter growth in 2010 has however been skewed towards the first and second quarters of the year following the change in early retirement rules at the April 2010 tax year end.
"Looking forward, the combination of the AXA UK Life and Friends Provident businesses presents opportunities in the vesting annuity segment and provides a platform on which to improve this proposition," the group says.
