Resolution

Resolution Limited provides public markets with a series of restructuring opportunities in the financial services industry within the United Kingdom and Western Europe. As of December 31, 2011, the Company’s restructuring project was the UK Life Project. The Company’s segments comprise UK comprising the former Friends Provident UK life and pensions business, the acquired AXA UK Life Business (including Winterthur Life UK Limited (WLUK)), Friends Life BHA limited (formerly known as Bupa Health Assurance Limited) (BHA), Sesame Bankhall; International comprising Friends Provident International Limited, the overseas life assurance business within the United Kingdom life and pensions subsidiaries and the Company’s share of AmLife Insurance Berhad and AmFamily Takaful Berhad, and Lombard. During the year ended December 31, 2011, the Company completed the acquisition of Bupa Health Assurance Limited and WLUK and disposed of the Guaranteed over Fifty and Trustee Investment Plan portfolios.