Friends Life

Michael Johnson has reignited calls for limiting pensions tax relief, saying the annual £29bn saved by the Treasury from tax relief could increase the state pension by 60%.

Friends Life added £92m to new total life and pensions business in Q1 fuelled by UK sales of £172m, results reveal.

Friends Life has appointed David Still to the newly created position of director, retirement income in a bid to increase its presence in the annuities market.

Friends Life has launched today with five million customers across the pensions, investment and insurance markets in the UK.

Resolution, the buyout vehicle launched by entrepreneur Clive Cowdery, is highly unlikely to make any further acquisitions and will instead focus on developing new life products.