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Government rescues RBS

Royal Bank of Scotland

Royal Bank of Scotland chiefs have been forced out under a bailout deal as part of a shake-up, demanded by Government, for a state-assisted re-capitalisation of the bank.

 

RBS owns bank assurance group NatWest, Direct Line and other insurers.

 

RBS is struggling to find buyers for its Churchill Insurance and Direct Line businesses, put up for sale in April; as some potential buyers have had serious troubles of their own.

 

Life insurance: News update: October 2008

 

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