January 6, 2009

Despite widespread media reports to the contrary between Christmas and the New Year, it seems RBS may not yet have shelved plans to sell its insurance operation RBS Insurance, which includes Direct Line and Churchill. BestWire the live news service of ratings agency A.M. Best quoted RBS spokesperson Linda Harper last Friday insisting that RBSi remains up for sale. The National papers had previously reported that idea of a sale, first mooted in April, had been dropped due to lack of interest from potential buyers. RBS is apparently seeking around £7bn for RBSi, which is, among other things, the UK’s largest insurer of private motor vehicles.


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