This is by way of a Memo for the noticeboard.
This Resolution business buys-up distressed policies - so called Zombie Funds (really?), that have underperformed for the policy-holders.
The hope is that by cutting costs some good will come of it.........but you and I know that once someone else has control of your money, suddenly it starts to misbehave; like an nephew you never knew.
No doubt the magement will be full of Shareholder value and policyholder improvements, but I remain to be convinced and wonder why so many of our respected Institutions ever bothered with policies that didn't perform.....were they advertised as such, or given a great gloss as the salesmen collected their fees?

Any followers on here?

RNS Number : 4169S

Resolution Limited

21 November 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

20 November 2011

Resolution Limited ("Resolution" or "the Company")

Statement regarding recent press speculation

Resolution notes recent press speculation and confirms that, whilst it did investigate the possible acquisition of Phoenix Group Holdings ("Phoenix") with both Phoenix and its lending banks, these talks have terminated.

As part of its UK Life Project, Resolution continually investigates a variety of bolt-on opportunities. Any acquisition must have a strong financial case and enhance returns to shareholders. The hurdle to executing any particular transaction is therefore high.

The UK Life Project continues to progress well, as evidenced by the Company's market announcement on 9 November. This set out the Company's intention to return a further GBP250 million to shareholders in the first half of 2012 subject to the delivery of planned capital synergies expected to be delivered in 2011 and following regulatory approval. The announcement also set out an expected increase in aggregate 2011 dividend to 19.89 pence per share, outlined the strong progress being made towards the Friends Life new business targets and announced strategic initiatives in outsourcing and the decision to create an in-house asset manager within Friends Life.

Finally gone long here.

Cancellation of targeted £250 million capital return

The Company has determined that it would be inappropriate to make the £250 million capital return originally targeted for the first half of 2012 and consequently announces its cancellation.

This decision is based on the estimated capital position of the group as at the end of June 2012 and follows careful consideration of the expected future capital requirements of Friends Life Group against a backdrop of heightened investment, economic and regulatory uncertainty.

The group's capital position remains robust. Friends Life Group had an estimated IGCA surplus of £1.9 billion as at 30 June 2012. The Company's dividend policy remains unchanged.

The Company will provide a detailed update on its cash and capital position and associated sensitivities with its interim results on 15 August 2012.

Mike Biggs, Chairman of Resolution Limited commented: "I understand that shareholders will be very disappointed that the Board has concluded not to return a second £250 million of capital but it would be inappropriate to do so against the backdrop of heightened investment, economic and regulatory uncertainty."

Out @222.3p

I'm in at 212. I hope a wise move.

Good luck - I think I'll wait for the interims in August.

Anybody know why this one has gone down? Is it tied to oil news in any way?

parrisf - did you read the announcement (post 7 above) a bit more here - Resolution shares drop after cancelling investor payment

I assumed the first drop was the RNS. I wondered about the second drop. The one today. But you mean the second one was for the same reason.

Culmination of that plus the hit that the financials have taken in general today (AV -6.6%) etc?

Wednesday 15 August
Resolution (RSL), reports interim results.

Recent news: Last month, shareholders were disappointed to learn the company was scrapping plans to make a £250 million capital return originally targeted for the first half of this year.

It said the decision was based on the estimated capital position of the group as at the end of June and followed careful consideration of the expected future capital requirements of Friends Life Group against a backdrop of heightened investment, economic and regulatory uncertainty.

Analysts' expectations: It remains to be seen whether the return to shareholders will materialise this year and rumours of a split of the business persist. Charles Stanley's Clarke is maintaining his 'hold' position just ahead of the results, but is keeping his powder dry.

Valuation: The dividend yield is around nine

Half Yearly Report

Just closed @234.3 - 2 gaps to be filled and and I hope to buy back when the lower one has been filled.

Lower gap almost filled today.

Just gone long again - ex dividend Wednesday. 7.05p (yield 8.37%).

Nearly covered Wednesday's dividend.

Holding(s) in Company

Abbey National Treasury Services Plc > 3%

Discussions about sale of AmLife stake.

Resolution Limited (the "Company") confirms that its operating business Friends Life is in discussions on the possible sale of its 30 per cent stake in AmLife Insurance Berhad and AmFamily Takaful Berhad back to its joint venture partner, AmBank Group of Malaysia. The Company will update the market in due course.