17th Mar 2015 06:38
LONDON (Alliance News) - RSA Insurance Group PLC is considering offloading its business in Latin America in what would mark the biggest asset disposal yet under Chief Executive Stephen Hester as he pushes on with a wide-ranging restructuring of the company, the Financial Times reported on Monday.
The FTSE 100-listed insurer has hired Goldman Sachs to handle a proposed sale of the business, which accounted for around a tenth of its total premium income in 2014, the FT said, citing sources familiar with the matter.
The Latin American business, estimated to be worth around GBP500 million, would be sold in addition to the company's Middle East business and would leave RSA focused on its UK and Ireland, Canada and Scandinavian arms.
http://www.ft.com/cms/s/0/40508fea-cbfc-11e4-beca-00144feab7de.html#axzz3UXwzJzXQ
By Sam Unsted; [email protected]; @SamUAtAlliance
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