Friends Provident, the beleaguered life assurer, is moving closer to announcing a break-up and will unveil the results of a strategic review next week.

Friends, being stalked by JC Flowers, the US private equity group, has received a number of expressions of interest in Lombard, its European wealth management business, according to people with knowledge of the situation. It is thought there are also several parties interested in Friends’ other international life assurance operations.