Bondholders seek to avoid debt restructure that will cause them losses

The Co-operative Bank is facing pressure from a group of bondholders to rethink its debt restructuring plan.

The bondholders, who stand to make losses from the restructuring, want the bank to consider alternatives to the plan, aimed at plugging the £1.5bn hole in its finances.

The group has already sold its life insurance arm to Royal London as part of efforts to shore up the bank’s finances, and is still seeking a buyer for its general insurance unit.

Former RSA chief executive Andy Haste is rumoured to be looking to buy the general insurance business with backing from private equity house Advent.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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