Resolution/Britannic Exit, carrying a prize

Opposition is true friendship. Paul Thompson and Clive Cowdery have made a public display of affection after spending the last two years bidding against each other for closed UK life funds. In combining their consolidation vehicles, Britannic and Resolution Life, they have removed a competing business. But with neither stepping aside, they have not removed a competing ego. Strategically, the deal makes sense. There is a lull in activity at the moment in the closed life fund sector. Vendors are w...