Buyout success for Ablett

Former Groupama managing director Tim Ablett has spoken of "anopportunity that was just too good to turn down" after leaving the Frenchinsurer to mastermind the management buyout of Royal & Sun Alliance(RSA)'s healthcare and assistance operations.

The deal, valued at £147m, will see the UK giant dispose of several units,including the subsidiary First Assist.

Mr Ablett was part of the team that set up RSA's healthcare and assistanceunit in 1997 before leaving to join Groupama, as was Steve Wood