Insurance consolidator Resolution (RSL.L) may halt its British buying spree after just three deals to focus on squeezing returns out of its existing assets while exploring fresh takeover targets in the United States. Resolution, founded with much fanfare in 2008 by insurance entrepreneur Clive Cowdery, had aimed to build up a British life insurer worth about 10 billion pounds ($15 billion) before selling or floating it by 2013. But management changes unveiled this week to hasten the integration of its three existing businesses, currently valued at about 6 billion pounds, are a signal that further deals are unlikely, bankers and analysts say.
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