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Resolution Life retains Lazard for a spending spree

Resolution Life Group, an investment vehicle led by Clive Cowdery, formerly head of GE Insurance, has bought Royal & Sun Alliance's UK life insurance business for £850m (€1.3bn). Cowdery said it was the first of a number of acquisitions.

Resolution Life will pay £750m in cash and £100m in Resolution Life preference shares for Royal & Sun Alliance Life.

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