Editor's comment
As Insurance Age went to press, it was confirmed that the UK's second-largest bank - the Royal Bank of Scotland (RBS) - was asking shareholders for an extra £12bn to shore up its finances. The rights issue was announced as part of a trading update, and will be one of the largest seen in UK corporate history.
RBS also confirmed it was open to offers for the insurance brands Direct Line and Churchill, by confirming that it was conducting a "strategic review" of the business. The bank said it may
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