The Chief Executive John Tiner of the U. K. acquisition vehicle Resolution Ltd. (RSL. LN) told reporters Wednesday, that it may look for possible acquisitions outside the U. K. life insurance industry and even outside the country.
Tiner did not divulge any information on which sectors and countries the company would be looking at.
But earlier in the month of November, Tiner said Resolution could start looking into potential purchases in America.
His comments come following the announcement of Resolution made earlier on Wednesday that it will focus on combining the three insurance companies it has already bought and toned down its previous objective of buying another company by the middle of this year.
Tiner said further that the integration of the companies that Resolution purchased would lead to cost savings, but would also see job reductions. He never presented any figure of how many staff would be reduced.
Resolution until now has purchased Friends Provident and some of AXA SA's (CS. FR) U. K. life business.
In the month of October, Friends Provident purchased life insurer Bupa Health Assurance Ltd. for a relatively small sum of GBP one hundred and two million. Resolution then stated that it would be open to the idea of buying smaller yet financially stable insurance companies, widening its previous plans of targeting only major insurance companies.
The price tag for BHA was much smaller compared to Resolution's two and three fourth billion pounds purchase of the AXA assets in June, and is also smaller than the GBP1.86 billion acquisition of Friends Provident in 2009.
Resolution was founded in late 2008 with the objective of purchasing financial service companies and joining them.
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