Clive Cowdery's Resolution yesterday raised its dividend by more than 6 per cent despite full-year profits missing City expectations.

Q. My husband bought a bag for me on 5 January for my birthday from the Mulberry store in St Christopher's Place, London. It was not a sale item. At my request, he exchanged it on 20 January for a different colour. The replacement bag was £100 cheaper. The store told him he could not have a refund and instead issued a credit note. However, the store's website shows that its policy is that items returned in perfect condition within 28 days with proof of purchase will be refunded. I have tried repeatedly but unsuccessfully to contact Mulberry to resolve this. The transaction was some time ago but I only recently found out that the store did not provide a refund. FW, by email.

Private healthcare group Bupa has hired Evelyn Bourke from insurance group Resolution to be its new chief financial officer.

Outlook Last week, Andrew Moss was giving up his pay rise. This week it's his job. The so-called "Shareholder Spring" has claimed its first scalp. Scalp, perhaps, but Mr Moss is no victim. Aviva's now former chief executive will depart with a severance package of £1.75m despite having presided over a share price fall of around 60 per cent.

Resolution shares tumbled towards the bottom of the stock market movers yesterday as the insurer unveiled plans to split the business in two by 2014.

The tycoon Clive Cowdery has given a vote of confidence to Resolution, the company he co-founded, by splashing out more than £600,000 on 240,000 shares at 252.9p, for his first personal stake.

John Menzies; Highland Gold Mining

Insurance tycoon Clive Cowdery has emerged as a surprise bidder for the 632 bank branches being sold by Lloyds Banking Group, it was reported today.

The insurance takeover specialist Resolution is to close its offices in Manchester and Basingstoke, affecting 295 jobs, as it integrates the three acquisitions it has made since it launched in 2008.

Aren't they the acceptable face of private equity?

Resolution Ltd, the insurance buyout business founded by Clive Cowdery, announced yesterday it would return £500m to investors over the next year.

Aviva is to appoint John McFarlane as its new chairman, ending the insurer's 10-month search to find a successor to Lord Sharman.