RBS insurance operations not for sale - CEO | Latest News | News | Hemscott

RBS insurance operations not for sale - CEO Latest News News Hemscott: "RBS insurance operations not for sale - CEO"

LONDON (Thomson Financial) - Royal Bank of Scotland chief executive Sir Fred Goodwin said the group has no plans to sell its insurance operations in order to fund its proposed joint takeover of Dutch rival ABN Amro, denying recent media reports.
'Selling the insurers is out of the question. We will not sell them,' Goodwin told Thomson Financial News on the sidelines of a press conference today.
loadAd('mpu');
Earlier this month, UK newspapers reported that RBS was mulling the sale of its Direct Line and Churchill home and motor insurance divisions for up to 8 bln stg to fund the ABN deal.
RBS has teamed up with Spain's Banco Santander Central Hispano and Belgo-Dutch bancassurer Fortis to buy ABN. The consortium today unveiled a 71.1 bln eur offer for the Dutch bank, surpassing an agreed 65 mln eur offer from UK bank Barclays. tf.TFN-