New name and new logo in preparation for multi-billion stock market listing; Direct Line phone will be kept
RBSI entered a new era this week after rebranding the bank logo for a D-shaped rainbow-coloured logo.
Insurance Times understands there will be some modifications to the rainbow-coloured logo, but it will be broadly similar to the one pictured.
The new D-shaped rainbow-coloured logo is for the holding company.It is also understood that RBSI will mantain the phone logo for Direct Line and other brand identities will be mantained.
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As revealed by Insurance Times, parent company Royal Bank of Scotland Insurance (RBSI) has changed its name to Direct Line Insurance Group. It has trademarked the new name alongside the rainbow-coloured logo.
The newly-named Direct Line Insurance Group is likely to float in the second-half of this year to comply with a European Commission competition ruling.
The bank-owned insurer has largely purged itself of the whiplash claims that caused a £1.1bn loss in 2010.
It pulled in a £123m third-quarter profit in 2011, compared with a £33m loss in the same period in 2010.
Wood will continue as executive chairman and take a strategic role overseeing the esure.
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