Friends Life: Difference between revisions
Resolution Limited and Resolution PLC were different companies within the umbrella of the Resolution Group. Both of were constituents of the FTSE 100. Edit corrects May 2014 change of name. |
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'''Friends Life''' is a [[life assurance]] company formed in 2011, comprising the merged UK operations of [[Friends Provident]] and the life assurance businesses acquired from [[Bupa]] and [[AXA]] UK. The |
'''Friends Life''' is a [[life assurance]] company formed in 2011, comprising the merged UK operations of [[Friends Provident]] and the life assurance businesses acquired from [[Bupa]] and [[AXA]] UK. The head office is located at One New Change [[London]] EC4M 9EF. The registered office is at [[Pixham|Pixham End]], Dorking in Surrey. It is a member of the [[Association of British Insurers]] and is regulated by the [[Financial Services Authority]]. |
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==History== |
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The company began trading in March 2011 with over 5 million customers worldwide.<ref>[http://www.ftadviser.com/FinancialAdviser/Advisers/News/article/20110317/0c988966-497c-11e0-88d3-00144f2af8e8/Resolution-puts-nal-touches-to-its-Friends-Life-joint-brand.jsp Resolution puts final touches to its Friends Life joint brand]</ref> |
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| ⚫ | It was listed (as Friends Provident plc) on the [[London Stock Exchange]] until it was acquired by buyout firm [[Resolution Limited|Resolution]] in November 2009. The company changed its listed name from Resolution Ltd to Friends Life Group Limited in May 2014; it retains its position in the FTSE 100 using the ticker FLG.L. |
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==Operations== |
==Operations== |
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Revision as of 20:08, 3 October 2014
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| Company type | Subsidiary |
|---|---|
| Industry | Financial Services |
| Founded | 1810 |
| Headquarters | London, UK |
Key people | Andy Briggs, (Group Chief Executive) |
| Products | Insurance, Inheritance tax products, Investment Management, Pensions |
| Owner | Resolution |
Number of employees | 4000 worldwide[1] |
| Website | www.friendslife.com |
Friends Life is a life assurance company formed in 2011, comprising the merged UK operations of Friends Provident and the life assurance businesses acquired from Bupa and AXA UK. The head office is located at One New Change London EC4M 9EF. The registered office is at Pixham End, Dorking in Surrey. It is a member of the Association of British Insurers and is regulated by the Financial Services Authority.
History
The company began trading in March 2011 with over 5 million customers worldwide.[2]
It was listed (as Friends Provident plc) on the London Stock Exchange until it was acquired by buyout firm Resolution in November 2009. The company changed its listed name from Resolution Ltd to Friends Life Group Limited in May 2014; it retains its position in the FTSE 100 using the ticker FLG.L.
Operations
Friends Life operates from seven countries around the world including: United Kingdom, Germany, Luxembourg, Dubai, Singapore, Hong Kong, and the Isle of Man. The group manages funds of £111 billion (as at 31 December 2011) on behalf of its customers. Friends Life is the 5th largest life and pensions company ranked by UK market capitalisation.[3]
Other companies within the Friends Life group include: Friends Provident International Limited, Sesame Bankhall Group, financial partners business AG (fpb AG) and Lombard International Assurance SA.
Friends Life have been the title sponsors of the Friends Life t20 cricket league organised by the England and Wales Cricket Board, since 2010 (as Friends Provident t20).[4]
Channel 4 News reported on 13 December 2012 that Friends Life had refused to pay out a life insurance claim to a 44 year old man, who died of cancer on the technicality that he failed to disclose that he suffered from pins and needles.[5]
References