Resolution has revealed that, although it has not received an offer or proposal from either of the two insurers, Standard Life and Pearl Assurance are interested in acquiring the company.

Standard Life and Pearl have been given access to all of the due diligence material provided to Friends Provident, but have yet to formally make an offer, according to media reports.

A company statement is widely quoted in the British media as saying: Resolution confirms that it is not in receipt of an offer or proposal from either Standard Life or Pearl and has not held discussions to develop the terms of such an offer or proposal which either party may wish to put to Resolution.

Confirming that it remains focused on creating value for its shareholders, the company has reiterated its proposed merger plans with Friends Provident, which Resolution claims will be the best way to maximize shareholder value.