Resolution

Life assurer Resolution is in talks over a possible sale of its European private and corporate client wealth planning division, Lombard.

The UK division of life insurance consolidator Resolution saw a drop in sales after the group shied away from "unattractive" business in the lead up to the Retail Distribution Review (RDR).

Friends Life will not see any change driven by Resolution's decision not to split the business, the provider has said.

While Friends Life is on track for Resolution hive off in 2014, this is by no means a certainty, Friends Life has said.

Friends Provident has once again entered discussions with Resolution Limited after receiving a "sufficiently improved" bid from the Clive Cowdery-led acquisition vehicle.

Friends Provident has ended discussions with Resolution after rejecting yet another takeover proposal by the Clive Cowdery-led group.