Swiss Life favourite to buy NPI

SWISS LIFE has replaced the Australian-based AMP as the favourite to take over NPI, the UK pensions specialist that put itself up for sale earlier this month. The Swiss group demutualised last year with the intention of making acquisitions, but it failed to buy the French GAN group.

Several UK financial services groups, including Abbey National, Halifax, Prudential and Norwich Union, have expressed interest in NPI. However Alistair Lyons, NPI managing director, has a strong preference for a merger with an overseas company to preserve NPI's autonomy.