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Article: Policyholders tremble as big bad wolf goes hunting
- Article from:
- Scotland on Sunday
- Article date:
- July 19, 2009
- Author:
CopyrightCopyright 2009 Scotland on Sunday. Provided by ProQuest LLC. (Hide copyright information)
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Buyout predator Resolution is on the prowl, but may become prey,
writes Teresa Hunter
HOW little policyholders, who picked Friends Provident as their
pension or investment provider because of its Quaker and ethical
heritage, could have imagined their savings might one day end up in
the hands of corporate wolf Clive Cowdery.
Cowdery's ambitions to gobble up large chunks of the insurance
industry for his company Resolution far from end there. The rag-bag
of life assurance brands now held, with some discomfort, within the
Lloyds stable are also within his sights, as potentially is the
mighty Prudential itself, Legal & General or even Aviva.
But it's worth remembering the story of Little Red ...