Insurers merge in £1.8bn deal

Clive Cowdery has been chosen as Resolution's Chief Executive

BBC Radio 4's Money Box was broadcast on Saturday, 11 June, 2005, at 1204 BST.

The programme was repeated on Sunday, 12 June at 2102 BST.

Read the programme transcript

Two of the UK's largest closed life groups are proposing to merge on equal terms to create a business valued at £1.8bn.

Brittanic and Resolution Life will become Resolution and will control about six million policies and £35 billion in life company assets.

The companies are confident the merger will enhance their profits and benefit both shareholders and policyholders.

We spoke to the man chosen to become Resolution Plc Executive Chairman, Clive Cowdery.

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Presenter: Paul Lewis
Producer: Jessica Dunbar
Reporter: Louise Greenwood