Friday, 15 October 2010

Resolution buys Bupa - £102m

Bupa Health Assurance becomes part of Friends Provident

Resolution has bought the entire issued share capital and business of Bupa Health Assurance for £102m, funded from surplus capital held within Friends Provident’s life operating businesses.

BHA will be run as a stand-alone business within the Friends group for a period of up to a year. After that Resolution expects £22m of savings through synergies.