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Bobbie Bobster

RL360 to acquire Friends Provident Intl

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15 minutes ago, woolley said:

One would hope so if they've parted with £340m.

I have no intention of signing up to read the press release but I'd be worried about a Manx financial institution claiming that this transaction is "a game-changer for the life insurance industry".

We'll see.

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1 hour ago, Andy Onchan said:

I have no intention of signing up to read the press release but I'd be worried about a Manx financial institution claiming that this transaction is "a game-changer for the life insurance industry".

We'll see.

Somewhat guilty of hyperbole. Private equity funded insurer acquires other insurer that's been on sale for a number of years. Nothing particularly earth moving.

Although CEOs tend to be a bit constrained in what they say, I wouldn't blame him too much.

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24 minutes ago, Bobbie Bobster said:

Somewhat guilty of hyperbole. Private equity funded insurer acquires other insurer that's been on sale for a number of years. Nothing particularly earth moving.

Although CEOs tend to be a bit constrained in what they say, I wouldn't blame him too much.

It is actually pretty earth moving for the people who work at FP. This isn't RL's first takeover and there may be potential redundancies.

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4 hours ago, woolley said:

Yes. Couple of years after Scottish Widows was integrated. Onward and upward.

Speaking with a few people who have clients with the old SW business I think it's debatable to say they have integrated it at all. You would hope they know what they're doing on this deal. 

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