FACTBOX - Friends Provident in talks with Resolution

(Reuters) - British life insurer Friends Provident has agreed to talks with suitor Resolution after receiving a revised offer valuing it at 1.9 billion pounds.

Following are some facts about Resolution and Friends Provident:

RESOLUTION:

* Based in the corporate tax haven of Guernsey, Resolution Limited was floated to acquire businesses in the life assurance, asset management, general insurance, banking and diversified general financial sectors in Britain and the rest of Europe.

* The buy-out vehicle of insurance entrepreneur Clive Cowdery has a secondary listing on the London Stock Exchange and it raised 600 million pounds from investors when it listed in December.

* The value of the company's short term investments at March 31 was 649 million pounds.

* The company has outsourced most of its operating functions, including the identification and assessment of acquisition opportunities to Resolution Operations, a Financial Services Authority (FSA) authorised, UK limited liability partnership.

* The company has no employees, pension schemes, share schemes or other long term incentive plans. Directors are remunerated on a fee only basis.

* Cowdery's previous venture, also called Resolution, was sold to rival Pearl in 2007 for about 5 billion pounds.