LONDON (dpa-AFX) - Resolution Ltd. (RSL.L) issued interim management statement for the first quarter.
The company noted that UK Life Project is in value delivery phase with good progress on financial targets. Resolution added that it has delivered improved new business results in the three month period to March 31, 2012, with value of new business increased to 35 million pounds compared to 19 million pounds last year and new business cash strain reduced to 67 million pounds versus 105 million pounds a year ago.
Total sales (on an annualised premium equivalent basis) in the first quarter of 2012 totalled 292 million pounds, up 8% on the 270 million pounds reported in the same quarter in 2011.
Mike Biggs, chairman of Resolution, commented, 'The Board sees good progress on the delivery of the financial targets of the UK Life Project. The UK business is benefiting from the financial discipline brought to the acquired businesses.'
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