Friends Provident wrote a new chapter in its 175-year history today after unveiling an £8.6bn (€12.8bn) merger deal to create a “significant” new force in the British insurance industry.

Insurance companies Friends Provident and Resolution have agreed to join forces after unveiling the terms of an £8.6bn (€12bn) merger today.

Abbey National, Britain's second biggest mortgage lender, announced that it is to invest in its facility in Belfast as part of its wide-ranging review of operations.