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RBS to sell insurance arm

Direct Line Insurance

Royal Bank of Scotland chairman Sir Phillip Hampton has finally confirmed that the bank plans to sell all insurance subsidiaries, including Direct Line, in the second half of 2012.


The European Commission says RBS has to sell its insurance business, which includes Direct Line, by 2013 under the conditions of its bailout by the UK government in 2008.

Life insurance news: 25 April 2011