Resolution in talks over Lombard sale

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Life assurer Resolution is in talks over a possible sale of its European private and corporate client wealth planning division, Lombard.

The group founded by entrepreneur Clive Cowdery (pictured) confirmed a disposal of the unit, which was part of the Friends Life group acquired by Resolution in 2009, on Thursday.

Resolution did not specify who it was in discussions with and, in a statement, pointed out a sale was not certain.

Lombard states on its website that Resolution is "committed" to the company and has described it as "a unique business with great prospects".

Lombard comprises Lombard International Assurance S.A. and Insurance Development Holdings AG, and Resolution said it had released a statement in response to recent press speculation about the possible disposal of the division.

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