L&G enters race to buy Co-op's GI arm
Legal & General has joined the race to buy the Co-operative Group's general insurance (GI) arm, it has been reported.
According to Sky News, the insurer is only interested in the Co-op's home insurance business and not its motor insurance book.
The household insurance book is believed to be worth several hundred million pounds.
Earlier this year, the Co-op confirmed that it intends to sell its GI business as it seeks to fill a £1.5bn black hole in the balance sheet of the Co-op bank.
Sky reported that among the other bidders for the GI operation are Catalina Holdings and Anacap.
Furthermore, it added that
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