Clive Cowdery, the insurance entrepreneur, has secured commitments from investors of just over £500m for a new vehicle to consolidate the hard-hit financial services sector, at the lower end of his range of expectations.
Mr Cowdery, who sold his first Resolution vehicle this year to arch-rival Hugh Osmond for £5bn, has been meeting investors during the past few weeks to raise funds for the new venture, also called Resolution.
