Simon English: It's clear why Resolution keeps things complex
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Outlook A headline from last June: Resolution leads UK resurgence in share buy-backs.
The insurer had pledged to return £500m to shareholders. It was pioneering. Daring even.
Fast-forward to this week and another headline: Resolution rules out share buy-back due to poor investment returns.
It has quit the scheme half way in. What's going on?
Resolution's results are impenetrable. It's not just me that thinks so.
"They make it complex on purpose. There are five different measures of everything," says a man who's done little but read insurance balance sheets for 20 years.
Resolution talks a good game, and chief executive John Tiner sounds plausible. But City folk think they have been misled.
The company now plans to split into two. One "zombie" company closed to new business, and one up-for-it go-getter.
This latest, typically Byzantine, scheme makes money for advisers, but for shareholders it is far from so obvious what the gain will be.
Resolution insists it is on target.
The City doesn't think so.
Clive Cowdery, the power behind Resolution, is lately involved in some entirely admirable charity projects.
He has other duties.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments