UK Insurance - Pearl assumptions overtaken by events as FSA delays takeover of Resolution

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The UK Financial Services Authority's (FSA) concern that Pearl's aggressive approach to modelling Resolution's future cashflows could negatively impact the interests of policyholders, has led to a delay in the takeover of the closed fund specialist as the regulator reviews the plans.

In a joint release, the companies said that Pearl's original change of control application to the FSA was based on the information available concerning Resolution's recommendation of its offer on November 16, 2007.

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