RBS will keep insurance unit (Dealscape

Royal Bank of Scotland Group plc on Thursday took its insurance unit off the block. The move is the latest strategic shift from recently installed CEO Stephen Hester at the bailed-out lender..

The Edinburgh bank, which has been majority-owned by the U.K. government since a £20 billion ($29 billion) rescue in November, said it's no longer talking to potential bidders for RBS Insurance. A sale of the division, whose brands include Direct Line, Churchill, car insurer Privilege, breakdown recovery company Green Flag and NIG, would have destroyed value for shareholders, it said.

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NOT A SUBSCRIBER? RBS will keep insurance unit Posted on February 5, 2009 11:56 AM Royal Bank of Scotland Group plc on Thursday took its insurance unit off the block. The move is the latest strategic shift from recently installed CEO Stephen Hester at the bailed-out lender.. The Edinburgh bank, which has been majority-owned by the U.K. government since a £20 billion ($29 billion) rescue in November, said it's no longer talking to potential bidders for RBS Insurance. A sale of the division, whose brands include Direct Line, Churchill, car insurer Privilege, breakdown recovery company Green Flag and NIG, would have destroyed value for shareholders, it said. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 911 articles related to the global economic bailout 781 articles related to Royal Bank of Scotland Group plc 138 in-depth reports on Financial Services auctions taken off the block 21 company records related to Scotland 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Skadden Arps Pinnacle Foods Concho Resources Agrium Inc. Birds Eye Cantor Fitzgerald Credit Suisse Windstream Corp. Goldman Sachs		EXISTING USERS Username Password Forget your password? Missing a product?

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