CompaniesMar 7 2012

Sesame Bankhall reveals six-year funding plan

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ByEmma Ann Hughes

George Higginson, chief executive of Sesame Bankhall Group, has told FTAdviser that the firm’s parent company, consolidator Resolution, is committed to long-term investment and has agreed a six-year funding plan with the business.

In a video interview with FTAdviser online resources editor Emma Ann Hughes, Mr Higginson said he had a good relationship both with sister company Friends Life and its parent company Resolution.

He said: “They are our parent, they are supportive, we have a good relationship with them and from the point of view of development we have a six-year plan.

“It is good to have a parent that understands you are better re-investing profits now to build for the future. That is what we are doing. We said that we would do that last year and we have.

“We have no debt. We have done all our investments from cash and balance sheet and profit and Resolution has a funding line with us that is substantial compared with some of our competitors.”

Yesterday it was confirmed that a deal struck between Sesame and estate agent business Connells would see the latter selling a range of Friends Life protection products through its network of 450 mortgage consultants.

Click here to see the video interview with Mr Higginson.