Insurance Age

RBS to restructure insurance arm ahead of sale

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    • Liz McMahon

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Royal Bank of Scotland is in the process of deciding who will act as an adviser on the restructure of its insurance division in preparation for selling the business.

RBS management has met with KPMG, PwC, Deloitte and lawyers from Norton Rose and a decision on who will advise the Government-owned bank on its insurance restructure is expected shortly, the Telegraph has reported.

The firm that wins the contract will help RBS shed complexities in its legal liabilities meaning that a potential buyer would not have to hold as much capital against the asset.

The restructure, known as a part VII transfer, is processed by the courts and allows companies to pool

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