Insurance Age

Another suitor pulls out of RBSI talks

Zurich has decided to withdraw from any further takeover discussions with Royal Bank of Scotland Insurance.

The insurer said the decision came after it had carried out a detailed review of the opportunities.

Zurich confirmed it would continue to assess growth opportunities in line with its stated strategic and financial targets, in furtherance of continued shareholder value. In addition, it will recommence purchasing shares under its previously announced share buyback program starting Friday, July 11, 2008.

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