11th Oct 2013 15:11
LONDON (Alliance News) - Legal & General is understood to have tabled an offer for the Co-operative Group's household insurance operations, Sky News City Editor Mark Kleinman reported Friday without saying where he got the information.
Kleinman said the bid was submitted for the household insurance book but doesn't include the mutual's motor insurance book, which would force the Co-op's advisers to look at several ways of carving up the insurance business.
The household insurance book is reportedly worth several hundred million pounds.
Neither Legal & General nor the Co-operative Group was immediately available for comment.
Legal & General shares were Friday quoted at 196.50 pence, up 2 pence, or 1.0%.
http://news.sky.com/story/1153177/l-and-g-joins-battle-for-co-op-insurance-arm
By Samuel Agini; [email protected]; @samuelagini
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