RBS calls in advisors over insurance arms
Royal Bank of Scotland has appointed advisors to assess options for its insurance arm, which could include the flotation of the home of Direct Line and Churchill motor insurance.
US banks Goldman Sachs and Morgan Stanley have been appointed by the bank.
RBS is being forced to dispose of Britain's biggest motor insurer by the end of 2013 by European regulators, after it received government bailout cash.
Advertisement
Hide AdAdvertisement
Hide AdRBS, which declined to comment, has indicated in the past its preferred option would be a flotation in 2012.
Britain's motor insurance market started to rebound late last year, but analysts fear RBS Insurance is unlikely to fetch more than its net asset value of about 4bn.