M&A Deal Summary

Resolution Acquires Abbey Life Assurance

On June 1, 2006, Resolution acquired insurance company Abbey Life Assurance from Santander UK for 6.7B USD

Acquisition Highlights
  • This is Resolution’s 4th transaction in the Insurance sector.
  • This is Resolution’s largest (disclosed) transaction.
  • This is Resolution’s 4th transaction in the United Kingdom.

M&A Deal Summary
Date 2006-06-01
Target Abbey Life Assurance
Sector Insurance
Buyer(s) Resolution
Sellers(s) Santander UK
Deal Type Divestiture
Deal Value 6.7B USD

Target

Abbey Life Assurance

Bournemouth, United Kingdom
Abbey Life Assurance Co. is a provider of long-term life insurance services and products in the United Kingdom.

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Buyer(S) 1

Buyer

Resolution

London, United Kingdom
Category Company
Founded 2004
Sector Financial Services
Employees40
DESCRIPTION

The Resolution Group is a privately-owned investment firm that has deep experience across financial services with a primary role as a sponsor of life insurance consolidation projects. Partners with public and private market investors. Focuses on risk management, cash flow and consolidation benefits.

DEAL STATS #
Overall 4 of 6
Sector (Insurance) 4 of 6
Type (Divestiture) 3 of 5
Country (United Kingdom) 4 of 6
Year (2006) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-01 Britannic

Birmingham, United Kingdom

Britannic plc engages in the management of United Kingdom based books of life assurance and pension business which are largely in run off.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-24 AXA UK Life Business

United Kingdom

AXA UK Life Business includes UK-based traditional life and pensions businesses, its IFA protection and corporate pension businesses, and its annuity businesses.

Buy $4.1B

Seller(S) 1

SELLER

Santander UK

London,, United Kingdom
Category Company
Founded 1988
Sector Financial Services
Employees20,000
DESCRIPTION

Santander UK plc, together with its subsidiaries, provides a range of banking and financial services

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
Country (United Kingdom) 1 of 1
Year (2006) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-04 The Royal Bank of Scotland - 318 Branches

United Kingdom

The sale comprises, 311 Royal Bank of Scotland branded branches in England and Wales,7 NatWest branded branches in Scotland, the retail and SME customer accounts attached to these branches, the Direct SME business and certain mid-corporate businesses.

Buy £350M
Mergr

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