Co-op cancels sale of GI business
Group claims GI arm's "significant growth potential" was factor in decision.
The Co-operative Group has cancelled the sale of its general insurance (GI) business.
The sale, which was announced in March 2013, was part of a strategy to focus on the group’s "relationship banking activities whilst also strengthening its capital position”.
However, the Co-op has announced that it intends to cancel the sale process and keep the GI business, and stated: “In reaching this decision, the group has taken into account the GI business's significant growth potential.”
The group also
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